19 August 2014
For example a company is paying MAT in earlier years and there is an accumulated MAT Credit of Rs.500 to their account.
In the previous year the company went into Business Loss.There is a TDS credit of Rs.60 in this year.So while filing return of Income Tax,How much refund the company should claim ? Is it TDS of Rs.60 or Is it TDS of Rs.60+MAT Credit of Rs.500=Rs.560 ?
20 August 2014
you dont get refund of MAT...only TDS portion can be refunded
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 August 2014
What will be the status of MAT,if company continue to be in losses ? Do we need to write it off after the set off period ? Do we can ever get this MAT refund ?