10 December 2008
For calculation of minimum alternate tax (MAT) u/s 115JB the book profit can be reduced by the loss brought forward or unabsorbed depreciation whichever is less as per books of account. In the following situation which is the amount that can be deducted from book profit? As Per IT return
Business Loss Brought Forward 2,00,000 Unabsorbed Depreciation 1,00,000 Total Loss Brought forward 3,00,000
As per books of account Loss brought forward 1,20,000
Business loss and depreciation loss is not shown separately in the books of accounts.How can it be worked out?
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