Menu
Calculation of mat
Should we include the book profit on sale of land for the purpose of MAT calculation under S 115JB. If so then what is the point in giving a special rate benefit @ 20% of the gain that too after deducting indexed cost?
Replies (3)
MAT is applicable only in case of companies, not for individual.
Land is in the name of the company. Now what is the stand that we take?
under normal route:
The sale proceeds of land will be taxable under head CG
under book profit route:
Tax will be calculated on book profits. so sale proceeds will be included in book profits for which we have to pay tax on that route
The sale proceeds of land will be taxable under head CG
under book profit route:
Tax will be calculated on book profits. so sale proceeds will be included in book profits for which we have to pay tax on that route
Recent Topic
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
Related Topics
CAclubindia
