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Excess Provision for Non Performing Assets ( Asset based )

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2010 Provision for NPA needs to be done based on RBI policy for Asset Based Financing. For calculation of Provision for Taxation, as this is disallowed under IT act, it needs to be added back.

However, would like to ask what treatment needs to be given for Excess Provision written back . Should it be deducted from Net Profit for calcuation of Profit for Taxation / MAT ( book profit )

What implication under MAT for Provision for NPA and Excess Provision written back.

Kindly suggest.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
12 July 2010 for the purpose of MAT provision for NPA is to be added back to profit for calculation of book profit u/s 115JB.

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