Calculation of MAT

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 November 2010 Dear Sir, Can u clarify the following point ? Whether income from capital gain is to be included in book profit of the Company.? For e. g. a Company shows the profit before tax of 1,00,00,000/- including the long term gain of 16,00,000 which is exempted from tax. What amount of book profit should i take for calculation of MAT u/s 115JB. Whether 1,00,00,000/- or 84,00,00,000/- Further if the above mentioned capital gain is taxable under the income tax @ 20% than how i calculate the MAT u/s115JB of income tax act & tax on long term capital gain.

Prachi Parekh

Prachi Parekh (Expert)
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23 November 2010 Capital gains would be included in the book profits, if such capital profits have been credited to the profit n loss account.

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