Hi
While calculating book profit for the purpose of MAT calculation, whether defferred tax should be adjusted ??
Whether defferred tax can be considered as provision for income tax
5 Replies
prashanth kamath
(Manager-Finance)
(33 Points)
Replied 31 August 2007
No adjustment shall be done with respect to deferred tax . Please refer section 115JB of the Income tax Act .
Dinessh Kumar
(Articled Asst.,)
(193 Points)
Replied 03 September 2007
please explain me whether it is a provision for income tax
siddh
(Article (Final Result waited))
(391 Points)
Replied 05 September 2007
no its not provision
provision for deffered tax liab. should disallow,its a disputed matter no sc decision made on so it will be preferrable to dissallow
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