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MAT CALCULATION

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(Querist)
19 November 2008 Dear Friends,

Kindly Clarify me the tax (mat)payable on the following.

one company has to its credit of P & L the following:

1.Consultancy Charges Received Rs. 2,00,00,000/-

2.Dividend Received 1,00,00,000.

3.Profit On Sale of Asssets 20,95,000

4.Sales 23,00,000

After taking into considerations of all expesnses the Loss is Coming to Rs.93,00,000/-

Inadmissionable expenses amounts to Rs.20,00,000/-

TDS available for the FY 2007-08 is Rs.26,85,000.

kindly tell me the amount of tax payable and refund
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chetan soni

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chetan soni (Expert)
19 November 2008 As the book profit is negative. There is no MAT liability u/s 115JB. You need to check with taxable income & then apply the tax rates.
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Ravikumar.G

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Ravikumar.G (Expert)
19 November 2008 Your book profit is Negative. MAT is not applicable. But ensure the the regular tax.
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M.Lokesh

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M.Lokesh (Querist)
26 November 2008 may i know the procedure for calculating Book Profit.

As Mentioned the taxable income comes to 2,23,00,000
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 June 2023 "Sorry, I am not a featured member."

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