21 August 2008
We are getting IT exemptions under Sec 10 (A). Last year we have not paid MAT. But somebody told that this year (Assessment year 08 - 09), we are suppose to pay MAT inspite of comming uner the exemption under Sec 10 (A)
21 August 2008
While section 115JA sought to exclude income and expenditure falling within the ambit of Chapter III, section 115JB is specific in excluding the items of income and expenditure in respect to which the provisions of section 10, 10A, 10B, 11 and section 12 apply. There is no reference to section 10C which grants exemption in respect of certain industrial undertakings in North Eastern Zone.
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