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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