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Ajay Kumar (Querist)
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18 November 2016 please can any one clarify .....why can't we create deferred tax asset on MAT credit, as MAT credit is an asset which gives future economic benefits by way of tax savings..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 November 2016 MAT does not result in any timing difference since it does not make any difference between the accounting income and taxable income. In view of that concept,it is not appropriate to consider MAT CREDIT as DTA .

Ajay Kumar

Ajay Kumar (Querist)
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04 January 2017 sir, then in some situations even if there are no timing differences, we create deferred tax asset in respect of losses incurred if virtual certainity with convincing evidence is present...

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