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  • MAT Calculation: Setoff MAT Credits - End Net Tax Payable

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    richa krishna
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    The document shows financial information for a company over 8 years including book profit, depreciation, taxable income, carry forward losses, corporate tax payments, MAT calculations, and deferred tax calculations. It tracks values year-over-year to calculate the company's annual tax obligations.

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    Tax Model Question

    Original Title

    Tax-Unsolved

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    The document shows financial information for a company over 8 years including book profit, depreciation, taxable income, carry forward losses, corporate tax payments, MAT calculations, and deferred tax calculations. It tracks values year-over-year to calculate the company's annual tax obligations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    8 views1 page

    MAT Calculation: Setoff MAT Credits - End Net Tax Payable

    Uploaded by

    richa krishna
    The document shows financial information for a company over 8 years including book profit, depreciation, taxable income, carry forward losses, corporate tax payments, MAT calculations, and deferred tax calculations. It tracks values year-over-year to calculate the company's annual tax obligations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Year - 1 Year - 2 Year - 3 Year - 4 Year - 5 Year - 6 Year - 7 Year - 8

    PBT - Book Profit ( 100) ( 100) ( 100) ( 100) ( 100) ( 100) ( 100) ( 100)
    Add: Dep SLM ( 100) ( 100) ( 100) ( 100) ( 100) ( 100) ( 100) ( 50)
    Less: Dep WDV ( 300) ( 300) ( 150) ( -  ) ( -  ) ( -  ) ( -  ) ( -  ) accelrated dep
    Taxable Income
    Carry Forward Loss - Beg
    Additions to CFL
    Set Off
    Carry Forward Loss - End

    Profit available for taxation


    Corporate Tax @ 33% ( -  )

    MAT Calculation
    PBT (Book Profits)
    Tax as per MAT ( @ 19%)

    Tax Payable ( -  )


    MAT paid over tax
    MAT Credit - Beg
    Addition
    Setoff
    MAT Credits - End
    Net Tax Payable ( -  )

    Deferred Tax Calculation


    Tax as per Books (@ 33%) ( -  )

    Deferred Tax Liability


    Opening
    Additions (DTL) ITE - ITP
    Closing

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