Fringe Benefit Tax and MAT calculation
This query is : Resolved
22 September 2008
If while calculating MAT, i take Net Profit before tax, then with respect to Fringe Benefit Tax, what should i deduct from PBT?
a) Provision for FBT or
b) Total FBT Liabilty or
c) Actual FBT paid
Eg: I have PBT = Rs. 1 lakh
Provision for FBT is Rs.50000
Total FBT Liabilty is Rs.30000
FBT paid is Rs.40000
What will be the book profit for MAT?
a) Provision for FBT or
b) Total FBT Liabilty or
c) Actual FBT paid
Eg: I have PBT = Rs. 1 lakh
Provision for FBT is Rs.50000
Total FBT Liabilty is Rs.30000
FBT paid is Rs.40000
What will be the book profit for MAT?
22 September 2008
Book profit for MAT is Rs i lakh.
23 September 2008
MAT calculation FBT is an allowable expenditure. During the year actual FBT liability is allowable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
