Question And Answer
Subject: ICDS vs IND AS
Querist: bs
Answered by:
Tags: ,
Date: February 17, 2023
Query asked by bs

when profit as per IND AS is more than one worked out under ICDS

which will affect book profit under MAT ?

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There is a codified law under section 115JB of the Act to compute Minimum Alternate Tax. Book profits have to be worked out as per the methods prescribed under the Companies Act, 2013 and not ICDS.

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