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WHAT the method of calculate MAT
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Answer / luv
mat is calculated under section 115JB inserted by finance
act. it is calculated by getting out 10% of book profits
for assessment year 2010-2011 bt foryr 2011-2012 its
15% of book profits
| Is This Answer Correct ? | 12 Yes | 9 No |
Answer / kalpana dudhate
M Vat calculate On Billing basis
sales bill is vat is called out put of vat
purchase bill,expense bill,assets bill vat is called input
of vat
vat = out put - (less) input
balance amt is vat payable
note: assets vat is only take input take on 3% set off
| Is This Answer Correct ? | 6 Yes | 3 No |
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