MAT - Amount set aside to provision made for meeting liabili

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... MAT - Amount set aside to provision made for meeting liabili
Query (Issue) Started By: - Ramesh Rangani Dated:- 19-5-2011 Last Reply Date:- 19-5-2011 Income Tax
Got 1 Reply
Income Tax
Dea .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r All, Can you please give examples of following liabilities for MAT purpose: Amount or amounts set aside to provisions made for meeting liabilities, other than ascertained liabilities. Thanks and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... regards, Ramesh Reply By Surender Gupta: The Reply: Any liability which are not ascertained and / or are of a contingent nature would fall within this category. Sometimes, it happens that for unfor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... eseen liability some provisions are made but the same are not finalized or ascertainiable. As per Explanation 1, to section 115JB, such provisions are liable to be added to the book profits.
Disc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X