Mat credit adjustment

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(Querist)


28 April 2012

my co is regd with stpi
i have during the fy 2011-2012
net profit as per income tax is rs 20 lac
and book profit is rs 18 lacs
net tax liablity is rs 5 lac
and mat credit c/f is rs 6 lac
how i calculate current year tax paybale and c/f mat credit


C A S.S.Agarwal, M.Com.,LL.B, (Expert)


09 May 2012

Against the current years taxable income tax is to be calculated and the b/f of MAT credit is to be adjusted and balance MAT credit is to be c/f



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