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MAT - Computation of Book Profits - Deductions

Income Tax - Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) - 05 - The following amounts are to be REDUCED while computing Book Profits:- the amount withdrawn from any reserves or provisions if any such amounts is credited to the statement of profit and loss account; However, any amount withdrawn from any reserve or provision, credited to profit & loss account, shall be reduced only if the reserve or provision was created by debiting the profit and loss account. the amount of in .....

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rom an AOP on which no income tax is payable in accordance with the provisions of section 86 (In case of a foreign company) interest, royalty or technical fees chargeable to tax at the rate specified in Chapte XII or capital gain arising on transactions in securities, if income tax payable in respect of these incomes under normal provisions (other than provisions governing MAT) is less than 18.5% The amount representing notionalgain on transfer of a capital asset being share of special purpose v .....

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dited to Profit & Loss account and shall be liable to MAT. the amount of depreciation debited to the profit and loss account (excluding the depreciation on account of revaluation of assets); the amount withdrawn from revaluation reserve and credited to profit and loss account, to the extent it does not exceed the amount of depreciation on account of revaluation of assets referred to in clause (c); the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books o .....

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