CA Day celebration 2024 Easy Office
LCI Learning

Mat

This query is : Resolved 

30 July 2011 Is Mat applicable if any enterprises take the benefit of Deduction Under Section 80IC........

Please reply with explnation....(i.e with section etc.)

30 July 2011 Deduction u/s 80IC - 80IE is allowed for the pupose of computing profits taxable under normal provisions of Income Tax Act.

However for calculating book profits u/s 115JB deduction allowable under chapter VI - A is not an allowable deduction and hence the companies are liable to pay MAT on the profits deducted u/s 80IC

31 July 2011 Yes I agree with the expert. If there is book profit then MAT is applicable




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query