About me
-
What kinds of questions I can and can't answer?
Direct Taxes - i can answer Students
My area of expertise
Income Tax
My experience in the area (years):
Article Assistat for 3Years
Organizations I belong to:
Ajay K Agrawal & Associates
Publications or writing which has appeared :
Ca Journal
Educational credentials:
Bcom(H) & CA
Award & Honors:
Best Article of My Office
-
Samridhi
says
: Income tax
Sir, My question is about MAT credit Like in Balance Sheet, there is advance tax on asset side, Provision for tax on liabilities side, so we can net off the two and only balance can be shown either on asset side or on liabilities side- Just like this, I want to ask about MAT credit. I have seen balance sheet of a company in which MAT credit is appering on its asset side. The company is also showing MAT credit entitlement on liabilities side under head Reserve and surplus. First I want to know how MAT credit comes on liabilities side under head Reserve and surplus. My second question is that whether such MAT credit which is appearing on asset as well as liability side can be set off. On asset side it is approx 50 crs, on liability side it is approx 15 crs. Kindly tell me -
C.A. LINESH PATIL
says
:
thnaks for reply how we will segragate two goodwill in case of amalgamation.and also as per AS 26 self generation of goodwill is prohibited.
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