Committee Report on Levy of MAT on Ind AS Compliant Companies: CBDT Invites Comments

Report of ‘MAT – Ind AS Committee’ of CBDT reg. framework for levy of MAT u/s 115JB of Income-tax for ‘Ind AS compliant companies’ in the year of adoption of Ind AS and thereafter

In line with the CBDT Order dt. dt. 8th June 2015 ‘MAT – Ind AS Committee’ was constituted to inter-alia suggest the framework for computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies in the year of adoption and there after. The Committee discussed in detail the provisions of section 115JB of the Act, Ind AS and relevant sections of the Companies Act, 2013 during its meetings held for suggesting framework for computation of books profit of Ind AS compliant companies. The committee submitted its recommendations / interim report on certain issues, as under:

MAT – Ind AS Committee Interim Report #1 dt. 18 March, 2016

CBDT Invites Comments on Interim Report(#1) of MAT-Ind AS Committee [28 April, 2016]

Afterwards, the CBDT invited comments/suggestions from stakeholders on the recommendations on certain issues as contained in the aforesaid Interim Report #1 of the ‘MAT Ind AS Committee’ of CBDT’, as under:

CBDT Press Release dt. 28 April, 2016 inviting comments on Interim Report 

CBDT Invites Comments on Interim Report(#2) of MAT-Ind AS Committee [5 August, 2016]

Again, the CBDT has invited comments/suggestions from stakeholders on the Interim Report #2 dt. 23 July 2016 of the ‘MAT Ind AS Committee’ of CBDT’, regarding framework for computation of book profit for the purposes of levy of MAT u/s 115JB for Ind AS compliant companies in the year of adoption and there after, as attached her-under:

MAT – Ind AS Committee Interim Report #2 dt. 23 July, 2016

CBDT Press Release dt. 5th August, 2016 inviting comments

The stake holders may submit their suggestions/ comments by 20th August, 2016 at the email addresses ([email protected]) or by post at the following address:

“Computation of book profit for Ind-AS compliant companies”, Director (Tax Policy & Legislation)-III, Central Board of Direct Taxes, Room No.147-G, North Block, New Delhi-110001

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