26 July 2012
After calculating MAT and IT we are paying tax as per MAT. In MAT calculation we have deducted lower of unabsorbed depreciation or business loss to the tune of Rs.50000 as per books.
Now i have a query that if we have used unabsorbed depreciation of book will it have any impact on Depreciation of IT act. i.e., the total unabsorbed depreciation will be allowed to carry forward or not? or whether the amount will be altered.
27 July 2012
Mr. Ritesh In case of partnership firm's return, Digital Signatures are required only if the books are subject to audit u/s 44AB.So, it depends on turnover and not on profit/loss.
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