TaxTMI 
TaxTMI 
Mat on Long Term Capital Gain in Companies A/cs
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....at on Long Term Capital Gain in Companies A/cs<br> Query (Issue) Started By: - NATHURAM KADAM Dated:- 5-4-2012 Last Reply Date:- 5-4-2012 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear Sir, In FY 2....
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....011-12 the companies Profit & Loss accounts Books Profit shows the Rs. 22,25,475/-as on 31st March-2012. Profit & Loss accounts includes the Long Term Capital Gain on Share for RS.14,35,345/- & Divide....
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....nd Rs.34710/-. While preparing computation of income of the company the normal Tax Due is Rs.2,65,241/- and the MAT due is RS.4,24,064/-. Long Term Capital Gain for Rs.14,35,345/- & Dividend Rs.34,71....
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....0/- is exempt U.S. 10(38). MAT due is correct or not. What can i do. What is the actual accounts treatment Kindly give the suggestion as earliest. Thanks & Regards (N. Kadam) Reply By CA GOPAL....
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....JI AGRAWAL: The Reply: The basic rate of income tax is 30%. Surcharge is applicable if income exceeds 1 crore @5%. EC+SHEC extra. Please check the calculation for normal tax. Dividend is covered u/s....
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.... 10(34) if declared u/s 115O. Hence would be deducted while calculating book profit u/s 115JB hence it would be 2225475-34710. MAT would be 18.54% only.<br> Discussion Forum - Knowledge Sharing ....