KPMG in India invites you to join us for a LIVE webinar on Thursday, 3 August 2017 between 04:00 – 05:00 PM to discuss key clarifications on computation of book profit for levy of Minimum Alternate Tax (MAT) issued by the Central Board of Direct Taxes (CBDT) and the proposed amendment to Section 115 JB of the Income Tax Act, 1961 (IT Act).
The Finance Act, 2017 provided a separate formulae for computation of book profit for the companies that prepare financial statements under Ind AS. Accordingly, MAT would be calculated using the profits as per the statement of profit and loss before Other Comprehensive Income (OCI), as the starting point. The Finance Act, 2017 also provides certain adjustments to book profits for MAT computation.
The CBDT received a number of queries on various aspects of computation of MAT under Ind AS. These matters were referred to an expert committee.
On 25 July 2017, CBDT issued the following circulars:
This is a special session of our Voices on Reporting webinars which will provide an overview of the above mentioned developments.
We look forward to your presence and active participation at this webinar.
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