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What is book Pfofit ?
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Profit which has been made but not yet realized through a
transaction, such as a stock which has risen in value but
is still being held. also called unrealized gain or
unrealized profit or paper gain or paper profit.
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Answer / manoj s
Book profit: Usually arises in income tax for the
calculation of MAT (Minimum Alternate tax)..
Calculation of BOOK Profit
Net profit as per profit and loss a/c
+ Inadmissible expenditure debited to p and l a/c
Admissible expenditure not credited to p and l a/c
- Admissible expenditure not debited to p and l a/c
Inadmissible expenditure credited to p and l a/c
= book Profit..
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Answer / yogendra.c
A gain on an investment that has not yet been realized. That is, book profit occurs when the current price of a security is higher than the price the holder paid for it, but the holder still owns the security. As a result, there is the possibility that the book profit might be erased if the price goes back down. A book profit represents an increase in one's net worth, but it may or may not affect one's lifestyle. Under most circumstances, one is not taxed for book profit; the government waits until gains and losses are realized.
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