Doubt about 115jb

Vishal (Article Asst.) (95 Points)

24 October 2015  

Hey Guys,

 

I have a query......... One of my client ( Private Limited Company) has incurred losses of Rs. 20,00,000/- in A.Y. 2014-15 however in A.Y. 2015-16 it managed to earn profit of Rs. 2,00,000/-. So now prevoius losses will absorb the current profit. But do I need to pay the taxes u/s 115JB ?

 

Its quite urgent...........