Is mat applicable if book shows loss

Hi , section 115JB is applicable to every company irrespective of its status or profits , so it is 100% applicable .

Ya it is applicable . YOu have to see whether there is book profit or not.

Gaurav,

115JB is applicale to every companies. Hence you have to calculate the book profit. But if the book shows a loss then, there will be no tax liability on the assessee.

AGREED,   USING FORUM....

Yes.., we need to calculate the profits as per 115JB taking book profits as the base and making additions/deletions therefrom provided in Explanation -1 to Sec.115JB. If after making such additions/deletions, their is net loss, then no MAT.!!!

MAT is applicable to all companies and is payable on Book profit , if any . Therefore if  Book Profit is loss then MAT is not applicable 

Tax to be paid by Company is

Tax calculated under normal provision of Income Tax Act

or

15% of book profit calculated as per sec.115JB

whichever is higher

so every Company comes under perview of sec. 115JB

yes and now mat rate is 18% for A.Y. 2011-12 and 18.5% for A.Y. 2012-13

yes , it will be applicable

yes Mat will be applicable First all of all take profit or loss as per schedule VI & than make additions or deletions now u as per prov 115jb  will get profit or loss for mat purpose If there is loss than pay tax as per normal prov of income tax act & if there is profit than mat will be calculated

                                                                           18% of book profits calculated as per 115jb (for a.y 2011-12)  as increased by surcharge(if any) & Cess

Tax payable will be higher of mat tax & normal prov of income tax act............

(rate posted by cs rajveer above has been changed)

Hi Friends, 

STPI company also applicable under MAT? IF yes, previous losses can carry forward or not? 

Please confirm once

STPI previous losses can be carry forward or not.