Computation of book profit under sec 115jb

Yes, As per the Amemndments made by Finance Act,2011, MAT is now required to by paid on income exempt u/s 10(38) and income decuctible u/s 10AA. As per provisions of 115JB income exempt u/s10,11,12 shall be deducted while computed book profit (except 10(38) & 10AA) and expenses related to income which are exempt u/s10,11,12 (except 10(38) & 10AA) shall be added back, only if they are debited/credited in the P&L A/c.

Conclusion : You need to add deduction claimed u/s 10AA while computing book profit u/s 115JB.

- Ruben Balooni

Yes we have to include income u/s 10AA. Income u/s 10AA is liable to MAT. Also the income u/s 80-IA to 80-IE is also liable to MAT.

Yes, As per Finance Act,2011, MAT is now required to be paid on income decuctible u/s 10AA

Now MAT is required to be paid on following income

1. Income exempt u/s 10(38)
2. Income deductible u/s 10AA