Mat credit
Querist : Anonymous
2. The amount of credit shall be equal to the difference between the liability as per normal provisions and liability as per MAT.
For example:
Liability as per normal provisions is Rs. 2 lakhs.
Liability as per MAT is Rs. 1,70,000.
Amount payable = Rs. 2,00,000
Less: MAT Credit Rs. 30,000
Net Liability = Rs. 1,70,000
MAT Credit carried forward = 1,00,000-30,000 = Rs. 70,000
1 MAT credit
2 regular tax-mat of particular year
Querist : Anonymous
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