Availing of mat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2013
If in current year tax liabilty is as below:
Tax as per normal rate - 1 Crore
Tax as per MAT - 5 Crore
Hence, i will be paying tax as per MAT i.e. Rs. 5 Crore.
How much credit of MAT i can avail in future? Is it Rs. 4 Crore or Rs. 5 Crore?
Tax as per normal rate - 1 Crore
Tax as per MAT - 5 Crore
Hence, i will be paying tax as per MAT i.e. Rs. 5 Crore.
How much credit of MAT i can avail in future? Is it Rs. 4 Crore or Rs. 5 Crore?
09 August 2013
As per Section 115JAA MAT credit will be computed as under:
MAT - Tax as per normal provisions.
Accordingly in this case MAT credit will be Rs. 4 crores.
MAT - Tax as per normal provisions.
Accordingly in this case MAT credit will be Rs. 4 crores.
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