Working of MAT
This query is : Resolved
11 July 2007
Hello friends,
A software company has two units. One is 100% EOU claiming expemption us/ 10 A. The other unit is alos 100% EOU but not claiming 0 A exemption.
The unit claiming 10 A exemption is making profits and the other non 10 A unit is incurring losses for long time.
Can any one help me with working out MAT liability by substing hypothetical figures?
The company has skipped its advance tax payemnt if any due in June, for want of MAT calculation.
Thank you.
Jayant Shaligram
A software company has two units. One is 100% EOU claiming expemption us/ 10 A. The other unit is alos 100% EOU but not claiming 0 A exemption.
The unit claiming 10 A exemption is making profits and the other non 10 A unit is incurring losses for long time.
Can any one help me with working out MAT liability by substing hypothetical figures?
The company has skipped its advance tax payemnt if any due in June, for want of MAT calculation.
Thank you.
Jayant Shaligram
26 February 2008
For working out MAT, income and expenditure of units covered by 10A has to be excluded
23 September 2008
If credited to P & L a/c
That should be deducted
Income exempt u/s 10/11/12 (except 10(38),10A,10B)
That should be deducted
Income exempt u/s 10/11/12 (except 10(38),10A,10B)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
