MAT and Deferred tax.
This query is : Resolved
Guest
Guest
(Querist)
01 March 2011
Hi everybody,
Thanks for answering in advance.
I wish to understand the logic behind using normal tax rates for creating deferred tax liability.
Why not create DTL at MAT rates, since MAt is the effective current tax. Thnaks a lot
Thanks for answering in advance.
I wish to understand the logic behind using normal tax rates for creating deferred tax liability.
Why not create DTL at MAT rates, since MAt is the effective current tax. Thnaks a lot
01 March 2011
MAT is not effective current tax its the MINIMUM amount of tax that should be PAID.
Effective & Actual tax liability is at normal rates.
Effective & Actual tax liability is at normal rates.
01 March 2011
It is a bench mark as specified in AS-22 for maintaining uniformity and consistency while preparing financial statements.
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