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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