Amount of loss to adjust against MAT Profit
This query is : Resolved
20 April 2011
Please advise:
Suppose Original loss was Rs.1 crore for 2006-07. then Rs. 20 lacs was used agst. MAT profit for year 08-09. Now my query is whether we can utilise full Rs. 1 crore again for year 09-10 or balance amount of rs. 80 lacs only can be used.
pl. give some reference'
Thanks in advance
ramesh
Suppose Original loss was Rs.1 crore for 2006-07. then Rs. 20 lacs was used agst. MAT profit for year 08-09. Now my query is whether we can utilise full Rs. 1 crore again for year 09-10 or balance amount of rs. 80 lacs only can be used.
pl. give some reference'
Thanks in advance
ramesh
CA Navin Jain
(Expert)
20 April 2011
for the MAT calculation u shall considered rs 80 lacs.
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