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What is book Pfofit ?

Answer Posted / 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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