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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 [ Such tax is abolished ] DDT under section 115-O Securities transaction Tax Interest under Income tax Act. Interest under Wealth Tax Act and other Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovision for losses, contingencies Bad Debts written 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st, dividend, royalty or fees for technical services chargeable to tax at the rate or rates specified in Chapter XII (i.e. Determination of Tax in Special Cases), if the income-tax payable thereon in accordance with the provisions of this Act, other than the provisions of this Chapter, if tax rate on above income is less than MAT rate 15%. fc. the amount representing notional loss on transfer of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... standing in revaluation reserve relating to revalued asset on the retirement or disposal of such asset k. Any amount of Gain on transfer of units referred to in section 47(xvii) (i.e. any transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by that trust to the transferor) (Applicable from the assessment year 2016-17) the amount of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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