Can some help me in knowing that , is there any addtional tax of 18% or so has to be paid if company is in loss, income less than expenses.
3 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 07 March 2011
there is no additional tax but MAT has increase from 18 % to 18.50% in current budget.
sachin sharma
(article)
(122 Points)
Replied 07 March 2011
hi suteekshan,
there is no additional tax if there is loss in books of accounts. But if there is profit in books of accounts but loss as per income tax act ( means after adjusting the depreciation as per income tax act) so mat will be applicable on book profit
Mat rate for f.y 2010-11 is 18% but
Mat rate for F.y 2011-12 is 18.5%
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