Book profit calculation
aswani kumar mishra (accounts manager) (24 Points)
22 April 2016
whether we add interest on vat in net profit for calculation of book profit u/sec 115jb
2 Replies
vikash
(account executive )
(23 Points)
Replied 22 April 2016
I think it sould be added in the book profit.
1). Additions to net profit: Where followings amount (form I to IX) debited to profit & loss account:- Amount of income tax paid or payable and the provision thereof. ( the word “Income Tax” includes CDT u/s 115-O, Interest under income tax act, Education Cess, Income tax and others)
sanjana dami
(CA final student)
(68 Points)
Replied 22 April 2016
No,
Only interest on income tax is to be added .
Interest relating to any other tax is not requiredto be added.
Recent Topics
- TDS vs TCS who eligible to deduct tds
- E-way Bill Limit In Maharashtra
- Requirement of filing of form MSME-1
- Income tax query capital gain & exemption
- LTCG on flat
- Acquisition Cost after Merger
- Clubbing (Income Tax)
- Sales Invoice raised in feb-25 but now some materi
- Transfer of Nominee Share to Body corporate
- GSTR 4 FOR 24-25 due date of annual return
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
