Mat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 October 2016
Can profit on sale of depreciable and non depreciable asset be deducted from profit to calculate book profit for the MAT Calculation.
12 October 2016
No, it cannot be deducted, MAT has to be paid on profit of capital assets.Only exception is, in case of a foreign company, MAT is not payable on sale of securities.
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