CBDT issues FAQs for computing book-profits under MAT for Ind-AS compliant companies

Jul 25,2017

CBDT issues circular containing 14 FAQs with respect to significant issues arising from the implementation of Minimum Alternate Tax (MAT) on Ind-AS compliant companies; FAQs issued pursuant to the recent report of the MAT-Ind AS Committee submitted in June 2017 which recommended certain amendments to the provisions of section 115JB w.e.f. April 1, 2017; CBDT's Circular now clarifies that the starting point for computing 'book profits' for Ind-AS compliant companies shall be profit before othe...

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