Book profit under

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Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2011 plz tell the computation of book profit under MAT

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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21 October 2011 NET PROFIT SHOWN IN P/L A/C AS INCREASED BY FOLLOWING-:

1. THE AMOUNT OF INCOME TAX PAID/PAYABLE & PROVISIONS
2. THE AMOUNTS CARRIED TO ANY RESERVES.
3. THE AMOUNT/PROVISIONS FOR MEETING LIABLITIES OTHER THAN ASCERTAINED LIABILITIES.
4 THE AMOUNT FOR THE PROVISIONS OF SUBSIDIARY
5 THE AMOUNTS PAID /PAYABLE FOR DIVIDEND
6. THE AMOUNT WHICH IS RELATABLE TO ANY INCOME TO WHICH SEC 10(OTHER THAN SEC 10(38) OR 10AA OR 111 AND 12 APPLY
7.. THE AMOUNT OF DEP.
8. THE AMOUNT OF DEFFERED TAX & PROVISIONS
9. THE PROVISION FOR DIMINUTION OF VALUE OF ANY ASSET.

THE TOTAL OF ABOVE REDUCED BY

1. THE AMOUNT WITHDRAWN FROM ANY RESERVES IF ANY SUCH AMOUNT CREDIT TO P/L
2.THE AMOUNT OF INCOME SEC 10,10AA.11 AND 12 IF CREDITED TO P/L
3. THE AMOUNT OF DEP.
4 THE AMOUNT WITHDRAWN FROM REVALUTION RESERVE
5 THE AMOUNT OF LOSS BROUGHT FORWARD OR UNABSORBED DEP...WHICHEVER IS LESS AS PER BOOKS OF ACCOUNT
6. THE AMOUNT OF DEFFERED TAX IF SUCH AMOUNT CREDITED

Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2011 if i m company had loss previous year but current they earn profit before tax of RS 80 lacs
whether they pay MAT or not

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 October 2011 Since you have profit during the current year, you will have to pay tax.

The tax to be paid shall be higher of the following:

Income tax computed as per the normal provisions of the Income Tax Act, or

MAT as per Section 115JB.