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From the following information for T Ltd, calculate the amount of tax to be debited inProfit and Loss Account for the year 31.03.2015 as per AS-22Accounting Profit ?50,00,000Book Profit as per MAT (Minimum Alternate Tax)?30,00,000Profit as per Income Tax Act ?25,00,000Tax Rate 30%MAT Rate 10%

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The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%


From the following information for T Ltd, calculate the amount of tax to be debited in<br>Profit and Loss Account for the year 31.03.2015 as per AS-22<br>Accounting Profit ?50,00,000<br>Book Profit as per MAT (Minimum Alternate Tax)?30,00,000<br>Profit as per Income Tax Act ?25,00,000<br>Tax Rate 30%<br>MAT Rate 10%






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