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Querist : Anonymous

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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.
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nishant

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nishant (Expert)
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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