Re: TREATMENT U/S VSV
Consider for example GTI is Rs 10 Cr and deduction u/s 80 is available for Rs 22 Cr,& as such taxable income is negative Rs 12 Crore MAT income is Rs 14 crore. The assessing office made addition of Rs 15 crore which result in taxable income of Rs 3 crore. MAT income also increase by 1 crore.how to show the same in VSV form.
Please refer Circular No . 9 dt 22 -4 2020. Q. No 55 and answer given by the CBDT. In case any further difficulty it may be desirable to approach the Designated Authority , they will guide properly .
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