Entry of mat credit entitlement

This query is : Resolved

PANKAJ KUMAR SRIVASTAVA (Querist)
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29 October 2016 RESPECTED SIR,
THE BOOK PROFIT OF A COMPANY FOR THE F.Y 2015-16 IS RS. 200000/- THE BROUGHT FORWARD LOSS IS RS. 350000/- LAC LOSS CARRIED FORWARDED IS RS. 150000/- AND IT HAS PAID ADVANCE TAX FOR THAT FINANCIAL YEAR RS. 50000/-
SIR I HAVE PASSED THE FOLLOWING JOURNAL ENTRY IN THE BOOKS.

MAT CREDIT ENTITLEMENT DR. 38110.00
TO ADVANCE INCOME TAX 38110.00
(BEING MAT TAX @19.055% PROVIDED)

SIR, PLEASE CONFIRM WHETHER THE ABOVE ENTRY IS CORRECT OR WRONG

SIR PLEASE CLEAR MY DOUBT

WITH REGARDS

PANKAJ KUMAR SRIVASTAVA

PANKAJ KUMAR SRIVASTAVA (Querist)
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04 November 2016 SIR,
PLEASE REPLYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

PANKAJ KUMAR SRIVASTAVA

PANKAJ KUMAR SRIVASTAVA (Querist)
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11 November 2016 sir,
please clarify