Easy Office
LCI Learning

MAT CREDIT

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 January 2009 MAT CREDIT AMOUNT DETERMINATION?

33.99% - 11.33% ? OR

30% - 10%?

if supporting case law. pls provide it too
Profile Image

Jitender

Profile Image

Jitender (Expert)
09 January 2009 mat credit= mat less tax payable under normal provisions of income tax.
Profile Image

CA Prabhakar

Profile Image

CA Prabhakar (Querist)
10 January 2009 in Your Mat less Tax payable..

indicate % of the above..

i know
mat credit= tax paid u/s 115j less normal tax

but surcharge and cess to be included or not while computing



Profile Image

CA Mani

Profile Image

CA Mani (Expert)
10 January 2009 There is no case law exactly for the issue.

% to be taken is 33.99 - 11.33.
Profile Image

CA Mani

Profile Image

CA Mani (Expert)
10 January 2009 Coz stress is on amount paid.
Profile Image

CA Prabhakar

Profile Image

CA Prabhakar (Querist)
18 January 2009 ya i too know it..

but it was argued as

mat credit= tax paid u/s 115jb(1)- normal tax

in 115jb(1), it doesn includes cess..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links