Income Tax : Explore the essentials of Section 43B(h) & Section 15 under MSMED Act for prompt payments & legal compliance in micro, small, and ...
Income Tax : Explore allowance of unutilized MAT credit transfer in company amalgamation. Understand legal provisions, judicial precedents, and...
Income Tax : Learn the meaning of current tax and deferred tax, and how deferred tax assets and liabilities impact a company's financial statem...
Income Tax : Understand Corporate Tax Rates for AY 2021-22, AY 2022-23, AY 2023-24 & AY 2024-25. Learn about exemptions, conditions, and implic...
Finance : A company opting for special rate taxation under section 115BAA and 115BAB of the Act are exempt from paying MAT. Further, a compa...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for ...
Income Tax : Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provision...
Income Tax : On the basis of the recommendations of the Committee on MAT-Ind AS, the Central Government has notified 10 ICDS vide Notification ...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : Read the full text of the ITAT Delhi's order on the invalid notice issued before filing ITR, leading to the quashing of the assess...
Income Tax : Explore the ITAT Ahmedabad ruling on Intas Pharmaceuticals Vs ACIT, focusing on working capital adjustment and notional interest o...
Income Tax : ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital r...
Income Tax : In the case of Karur Vysya Bank Ltd. vs. DCIT, ITAT Chennai rejects AO's disallowance of stale drafts, citing precedent and bankin...
Income Tax : Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option ...
Income Tax : Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only...
Income Tax : Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB...
Income Tax : CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounti...
Income Tax : References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going into t...
The issue under consideration is whether submitting additional claims before tribunal, which is not claim in return of income will be sustain in law?
The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits under Section 115JB of the Act?
The issue under consideration is whether the penalty notice u/s 271(1)(c) issued to the assessee who has taxed his income as per provision of section 115JB pr 115JC is justified in law?
Whether upward adjustment to book profit under section 115JB of the Act, by treating the loss on purchase and redemption of mutual funds as expenditure relatable to earning exempt income is justified in law?
The issue under consideration is whether the addition made by AO u/s 14A with respect of Interest free funds is justified in law?
Understanding Minimum Alternate Tax (MAT) for Ind AS 115 complaint companies. Learn how to compute book profit and navigate the provisions of section 115JB.
The issue under consideration is whether the charge of interest under sections 234B and 234C on the book profit was not justified?
Whether the interest u/s 234B for less payment of advance tax will be levied on account of additions made to total income, consequent to retrospective amendment?
Article summarizes the provisions of Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT). The article gives theoretical insights along with examples for sound understanding of the provisions.
The tribunal has held that net profits have to be determined as per the provisions of the companies Act and thereafter, the adjustments have to be made. It has further been held that the assessee cannot adjust the books of profit except as provided under the companies Act.
