https://www.taxtmi.com/article/detailed?id=365 Amounts provided and debited in the profit and loss account that constitute present liabilities reasonably estimated and disclosed in accounts are deductible from book profit for MAT purposes even if they are disallowable under normal tax computation; provisions such as gratuity quantified by recognized actuarial or reasonable methods exemplify ascertainable liabilities that are excluded from book profit, and the same approach applies to similar estimated liabilities like leave encashment, warranties and pension obligations. en-us Wed, 13 May 2009 00:00:00 +0530 Wed, 30 Jul 2025 21:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=365 Amounts provided and debited in the profit and loss account that constitute present liabilities reasonably estimated and disclosed in accounts are deductible from book profit for MAT purposes even if they are disallowable under normal tax computation; provisions such as gratuity quantified by recognized actuarial or reasonable methods exemplify ascertainable liabilities that are excluded from book profit, and the same approach applies to similar estimated liabilities like leave encashment, warranties and pension obligations. Articles Income Tax Wed, 13 May 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=365