NISHANT SIPANI
(Finance Controller)
(121 Points)
Dear Friends
can MAT be allowed under PGBP expenses?
Sunshine
(Helping All)
(10575 Points)
Replied 30 August 2011
no it cannot be....MAT is also an income tax only....cannot be allowed..
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 30 August 2011
Mat is also tax and tax is not allowed to be deducted frm PGBP.
A.K.Banik
(Tax Consultant)
(1596 Points)
Replied 30 August 2011
for PCC taxation , MAT is not included in our course,
Max Payne
(employed)
(2574 Points)
Replied 30 August 2011
As per section 40(a)(ii) it is not allowed - it is only a form of income tax.
Dhiraj
(Article)
(33 Points)
Replied 30 August 2011
.....MAT is not a deductable expenses under PGBP.
Sanjiv Tiwari
(Article)
(22 Points)
Replied 31 August 2011
definition of body of individual with proper example
NISHANT SIPANI
(Finance Controller)
(121 Points)
Replied 31 August 2011
Friends
I face this in my articleship.
It is a pvt ltd co having book profit, with Depreciation Tax is not arose. But due to Mat co. hv to pay Tax. My Q is can last year B/F loss can be set off again C/F book profit and then on -Book profit co. has not to pay MAT.
is it correct?
Praveen Kumar
(Manager - Finance & Accounts)
(189 Points)
Replied 31 August 2011
As per provision of Sec 115JB
For computation of book profit ,The amount of Loss forward or unabsorbed Depreciation whichever is less as per books of account can be deducted for computing book profit
CAclubindia
