Applicability of Form 29B (115JB)

[Shubham Kansal]

Dear Experts,

In case of company having losses as per normal provisions of Income Tax Act as well as losses as per Companies Act, i.e. company neither paid any MAT nor reversed taxes under MAT in a particular year, is there any requirement to file Form 29B ?

[CASusheel Gupta]

Form 29B is to submitted only if tax is payable under MAT

CA Susheel Gupta

AI Summary

MAT requirement: File Form 29B only when Minimum Alternate Tax is actually payable; not required otherwise. Form 29B is required only where tax is payable under the Minimum Alternate Tax provisions; losses under the Income Tax Act or Companies Act, absent MAT payable or reversal, do not themselves necessitate filing Form 29B.