Mat and income tax
Querist : Anonymous
Suppose 'x' ltd is having loss as per income tax and as per MAT. Now my question is MAT is applicable in cases of loss as per companies act. I will give an example try to solve it in correct manner.
X ltd profit as per companies act is (40,00,000)
. as pet it (44,00,000)
. as per MAT (10,00,000)
In Itr it's showing losses to be carried forward is (44,00,000)
Amt payable under MAT (10,00,000)
Here my question is whether it have any impact while carry forwarding because as per Mat loss is 1000000, where as loss as per income tax is 44,00,000.Finally which amt will be considered as carry forward loss.urgent
Querist : Anonymous
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