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MAT - Computation of Book Profits - Additions - Explanation 1

Income Tax - Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) - 04 - For the purposes of this section, book profit means the profit as shown in the statement profit and loss account for the relevant previous year prepared as per sub-sectio .....

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n 115-O Securities transaction Tax Interest under Income tax Act. Interest under Wealth Tax Act and other Acts Surcharge and Education Cess Penalties Commodities Transaction Tax the amounts carried to any reserves by whatever name called (other than .....

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ide to provisions made for meeting liabilities, other than ascertained liabilities; (that means provisions made to meet unascertained liabilities); TO BE ADDED NOT TO BE ADDED Provision for leave encashment/ warranty on adhoc basis Provision for leav .....

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Even the actual loss of the subsidiary company debited to Profit & Loss Account shall be added back for computing book profits. the amount or amounts of dividend paid or proposed; the amount or amounts of expenditure relatable to any income to wh .....

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1 & 12 the amount of depreciation (entire depreciation including depreciation on revalued assets). the amount of deferred tax and provision therefor. the amount or amounts set aside as provision for diminution in the value of any asset, the amoun .....

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