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Calculation of Book Profit to Pay Income Tax

Net Profit/Loss as per Profit & Loss Account

Add:1. Provision for Income Tax
       2. Amount Carried to any Reserve

      3. Amount set aside to meet any unascertained liabilities including deferred tax and provisions thereof

       4. Proposed or paid dividend

       5. Expenditure relatable to Income which is exempt

Less:1. Amount withdrawn from any reserve
       2. Exempt Income
     3. Amount of loss brought forward or unabsorbed depreciation whichever is less

Note: Income exempt u/s 10A, 10B & long term capital gain exempt exempt u/s 10(36) will not be deducted while computing Book profit for MAT.

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