Section 115JB MAT

This query is : Resolved

Abhishek Shah (Querist)
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29 November 2009 A Company has its financial year ending September 2009. Tax Audit has been already conducted for the year ended 31st March 2009 and Tax provision was made as per MAT. The Company still is under MAT provisions. Now in September end on what rate company should calculate MAT i.e. whether @10% or 15% or the company should break the period as Oct 08 to Mar 09 @ 10% and Apr 09 to Sep 09 @15%

Pankaj K Gupta

Pankaj K Gupta (Expert)
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29 November 2009 So far as Tax provision for FY Sep 09 is concerned, it would be in 2 breakup in terms of period- Upto Mar 09 & post Mar 09.FOr Upto Mar 09- as per return filed and for subsequent period - as per tax computation- In fact I would suggest that Incoem tax provision, for broken period upto Sept 09 would be aqn estimate, to be finalised at the tme of Mar 09 closing.