Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: list of goods taxed at 4% :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: cpt :: form 3cd
Direct Tax »
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today
 Here are a few last-minute tax saving ideas Not planned taxes yet?
 Confessions of a fake CA exposes lacuna in e-filing of tax return
 Greetings from the income tax department
 Scrambling to scrounge proof of tax-saving investment
 5 tips to save your money Do not make this big income tax returns filing mistake
 I-T e-assessment: CBDT notifies new communication scheme
 Which income tax form to use; all you want to know in short and precise manner

CBDT relaxes MAT provisions for companies under corporate insolvency
January, 11th 2018

In significant relief to firms undergoing insolvency resolution, the Finance Ministry has now eased provisions of minimum alternate tax (MAT) for them.

Accordingly, companies against whom corporate insolvency resolution process has been initiated can now reduce the total loss brought forward (including unabsorbed depreciation) from the book profit for the purpose of MAT.

“Representations have been received from various stakeholders that the companies against whom an application for corporate insolvency resolution process has been admitted by the Adjudicating Authority, are facing hardship due to restriction in allowance of brought forward loss for computation of book profit,” said the Central Board of Direct Taxes (CBDT) on Saturday.

The relaxation will be available from the assessment year 2018–19 onwards, it added. “Appropriate legislative amendment in this regard will be made in due course,” said the CBDT. These are now likely to be included in the Union Budget 2018–19, which will be presented in Parliament on February 1.

At present, under section 115JB of the Income-Tax Act, 1961, MAT is calculated after the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account is reduced from the book profit.

Earlier, the issue had been raised by sectoral experts, bankers and industry chambers that had pointed out that the existing MAT provisions could be a challenge for new promoters or investors under insolvency resolution.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions