The MAT is charged at 10% of Book Profit. Meaning of Book Profit: The Net Profit as shown in Profit & Loss Account as per Companies Act, 1956 As increased by, a) The amount of Income tax paid or payable or provisions therefore. (Deferred Taxation:- Section 2(43) defines ‘Tax’ as income tax chargeable under the provisions of Income Tax Act. Further deferred tax provision is not in the nature of provision for meeting any liability, which is not ascertained. Therefore, the deferred tax provision in the account is neither a liability for the purpose of clause(a) nor in the nature of provision for meeting any unascertained liability for the purpose of clause (c) of the Explanation to section 115JB. It represents only a necessary accounting adjustment as per AS 22 to fall in line with the matching principle of accounting. Therefore, the Provision for deferred tax charged to P & L account cannot be added.) b) The amount carried to any reserves other than a reserve specified U/s. 33AC. c) The amount of provisions made for meeting liabilities, other than ascertained liabilities. Examples of Ascertained Liabilities • Provision for Leave Encashment • Provision for Gratuity made as per actuary • Provision for Sales tax, Service tax, excise duty, etc. Examples of Unascertained Liabilities • Provision for gratuity on ad-hoc basis • Provision for warranty/contingency/future losses/ doubtful debts d) The amount by way of provision for losses of subsidiary companies. e) The amount of dividends paid or proposed f) The amount of expenditure related to any income to which Section 10[other then the provision contained U/s. 10(38)] or Section 10A or 10B or Section 11 or Section 12 apply. g) The amount of depreciation. If any amount referred to in clause (a) to (g) is debited to the Profit and Loss account, and As reduced by, a) The amount withdrawn from any reserve or provisions if any such amount is credited to P. & L. Account. Provided that in respect of Reserve created or Provisions made on or after 01-04-1997; The amount withdrawn shall be reduced from the Book Profit only if, (i) Such amount is credited to P. & L. A/c. and (ii) The Book Profits of the year of creation of Reserve or Provision has been increased by such amount. b) The amount of income to which any of the provisions of Section 10[other then the provision contained U/s. 10(38)] or Section 10A or 10B or Section 11 or Section 12 apply, if any such amount is credited to the P. & L. Account. c) The amount of depreciation debited to the Profit and Loss Account(excluding the depreciation on account of revaluation of assets) d) The amount withdrawn from revaluation reserve and credited to the P. & L. Account, to the extent it does not exceed the amount of depreciation on account of revaluation of assets referred to in clause (c) e) The amount of loss brought forward or unabsorbed depreciation, which ever is less as per books of account. Note: Loss shall not include depreciation. f) The amount of profits of sick industrial company for the year commencing from the year in which the said company has become a sick industrial company under the relevant Act and ending with the year in which the entire net worth of such company becomes equal to or exceeds the accumulated losses. The remaining Balance is your book profit. It is to be charged at 10%+Surcharge+EC+HEC.

Hi,

Could you please send me the Mat computation table and could you please tell me whether FBT shall also be added while computing book profit.

 

pls send MAT Computation & Deffered tax calculation

hiiiiiiiiiiiiiiiiiiiiiiiiiiiiii

Can anyone send me MAT computation table will all its allowances and disallowances incorporated.  my mail id manjunath_kr @ hotmail.com

 

Thanks in advance

Manjunathi

Please send me also. My id is tanya_dewani @ yahoo.com.

Thanks in Advance

Tanya

 

I would like to  have the computation table for my ref. if anybody is helping this will be very great help to me

ramachandra.R

It would be very kind of you to send MAT computation table.

Thanks in advance

My email id is ambujchoudhary @ gmail.com

Originally posted by :Guest
"	It would be very kind of you to send MAT computation table. Thanks in advance My email id is ambujchoudhary @ gmail.com	"

 

hiii

plz send me the same computation chart

my e-mail id is madhur_gupta @ hotmail.com

it will b thanks to u

pls send me MAT Computation Table & Deffered tax calculation

Thanks in anticipation

It would be very kind of you to send MAT & Deferred Tax computation table.

Thanks in advance

Can anyone tell me about the applicability of MAT?

I dont have any knowledge about this, so if possible explain this with an example?

Thanx in advance.

Hi Deepti.

i will send u the allowances and disallwances detail u/s 115 jb on your mail.

Mitesh

 

 

Hiii

Plz send me the same. It will be a grate help for me.

Thanx in advance.

Originally posted by :Guest
"	Hiii Plz send me the same. It will be a grate help for me. my mail id is agarwal_ina @ yahoo.co.in Thanx in advance.	"