Clarifications on computation of book profit for the purposes of ...

Clarifications on computing book profit for MAT u/s 115JB for companies using Indian Accounting Standards.

July 25, 2017

Circulars Income Tax

Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies - Circular

View Source

← Previous Next →

Clarifications on computation of book profit for the purposes of ...

Clarifications on computing book profit for MAT u/s 115JB for companies using Indian Accounting Standards.

July 25, 2017

Circulars Income Tax

You may also like:

The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

MAT computation - exclusion of income of SEZ unit while computing Book Profit u/s 115JB - book profit computed under section 115JB will not include income of SEZ Unit - AT

MAT - AO add back the Income-tax paid in Spain while computing book profit u/s. 115JB - only taxes specified in Explanation 2 can be added back while computing book...

Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

MAT - Computation of book profits for the purpose of MAT under the provisions of sec.115JB - Assessee has not prepared its accounts in accordance with Part-II & III of...

MAT - Computation of book profits u/s 115JB - AO sought to tax under MAT an amount being remission of liability of Bank - once this amount has been disclosed in the P&L...

MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

MAT - Calculation of book profit u/s 115JB - A.O seems to have acted beyond the provisions laid down in Section 115JB and has made the adjustment to the book profits...

While computing MAT u/s 115JB, dividend tax paid should not be reduced from the book profit of the assessee company - AT

Minimum Alternate Tax (MAT) u/s 115JB - AO directed to make adjustment for the Impairment loss in the Book Profit derived from the activities of a tonnage tax company...

Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB...

MAT Computation - computing book profits u/s.115JB - Provision for expenses - All these expenses are in the nature of regular business expenses incurred by the assessee...

Book profit adjustment - MAT u/s 115JB - provision for retirement benefits – As per this clause (f) of section 43B, the expenses of leave encashment are allowable on an...

Minimum alternate tax (MAT) - profit from sale of agricultural land, which is not a “Capital Asset”, cannot be included for the purpose of computing book profit u/s 115JB - AT

Quick Updates: