Calculation of MAT u/s 115JB

This query is : Resolved 

20 September 2008 I WANT TO UNDERSTAND WHETHER MAT CALCULATION AND CERTIFICATE IN FORM 29B IS APPLICABLE IN CASE OF NET LOSS.

20 September 2008 If the profit and loss account approved by the shareholders ( placed before the shareholders in the AGM) shows only a loss, there is no question of 115 JB if such loss contnues tb be a loss after making the adjustments as per the said S.115JB. If no MAT tax is payable, no need for 29B certification.

20 September 2008 In calculations of MAT Net profit means whether PAT or PBT?
Further Income tax,Deferred tax and FBT provisions are deducted from net profit is it correct? If Yes, then what will be the adjustment in case of deferreed tax assets?


20 September 2008 Under efiling utility return, the caluclation happens automatically in that section, those steps will guide to give a better understanding of the working for MAT.



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