Mat Calculation Format

Every company should pay higherof the tax calculated under the following two provisions.

Mat calculation format. Visit our framing advice section to learn more about matted presentations. Net profit as per profit and loss account exprot income add where the following are debited to p l a c. How to calculate mat. You now have a cutting list for each mat you need.

Calculation of book profits for the purpose of mat maximum alternate tax section 115jb for computation of book profit one may proceed as follows. Measure your art enter the measurement of your art and the border size and our custom mat calculator will do the math. Contributed by excelfinder team. A domestic company is taxable at the rate of 25 if its turnover or gross receipt does.

Utility is in excel file format and easy to understand and calculates mat liability automatically. 8 52 000 plus cess as applicable being higher than the mat liability. Minimum alternate tax as per section 115jb of income tax act 18 5 on the book profits of a company assessee. The net profits are to be adjusted with some additions and deduction from net profits derived from the p l account.

The minimum load for each commercial general use receptacle outlet is 180va per strap. Download automatic mat calculator in excel format xlsx version with case laws. The minimum alternative tax mat is a provision introduced in direct tax laws to limit the tax deductions exemptions otherwise available to taxpayers so that they pay a minimum amount of tax to the government. Hence tax payable by company 20 28 000.

If you are cutting multiple mats add a title to identify the artwork and print off. Mat is calculated under section 115jb of the income tax act. In this example the 15a 120v breaker could accommodate 1 800va of load 120v x 15a 1 800va. Mat liability excluding cess and surcharge 15 on rs 18 40 000 will come to rs.

18 june 2008 there is a specific format prescribed under section 115jb of income tax act. Thus the tax liability of sm energy pvt. Tax liability as per the normal provisions of income tax act tax rate 30 plus 4 edu cess plus surcharge if applicable. There is a credit of mat of 4 68 000 which can be carried forward to 15 assessment year.

Download automatic mat calculator in excel format xls version with case laws. Minimum alternative tax mat and its computation of book profit and mat credit under section 115jb of income tax act 1961.