Question ID :
42267
MAT under Sec.115 JB
As per sec.115JB, brought forward loss or unabsorbed depreciation whichever is less as per books to be deducted for arriving at adjusted book profits. Suppose a company has negative balance of profit and loss account carried in balance sheet but has general reserve created in earlier years, whether the two has to be netted off to arrive at brought forward loss or unabsorbed depreciation as per books?
posted by
balasubramanian
on
Apr 29 2022 12:00AM