TMI BlogMAT - Computation of Book Profits - Additions - Explanation 1 to Section 115JB(2)X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as per section 115JB(2) above, as increased by the following amounts if following amounts are DEBITED TO PROFIT LOSS ACCOUNT a. the amount of income tax paid or payable, and the provision thereof; TO BE ADDED NOT TO BE ADDED Income Tax Wealth Tax DDT under section 115-O Securities transaction Tax Interest under Income tax Act. Interest under Wealth Tax Act and other Acts Surcharge and Education ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en off. d. the amount by way of provision for losses of subsidiary companies; Even the actual loss of the subsidiary company debited to Profit Loss Account shall be added back for computing book profits. e. the amount or amounts of dividend paid or proposed; f. the amount or amounts of expenditure relatable to any income to which section 10 (other than provisions contained in section 10(38) thereo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance with the provisions of this Act, other than the provisions of this Chapter, it is at a rate less than 15%. fc. the amount representing notional loss on transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by the trust referred to in section 47(xvii) or the amount representing notional loss resulting from any change in carrying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to the income to foreign company i.e. from capital gain on securities or Interest, dividend, royalty or fees for technical services. (if tax rate on above income is less than MAT rate 15%.) b. In case where the shares are carried at cost :- Any notional loss on exchange on share of SPV with units of Business Trust or notional loss due to change in carrying amount of units or loss on transfer o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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