MAT CREDIT
This query is : Resolved
CA Prabhakar
(Querist)
09 January 2009
MAT CREDIT AMOUNT DETERMINATION?
33.99% - 11.33% ? OR
30% - 10%?
if supporting case law. pls provide it too
33.99% - 11.33% ? OR
30% - 10%?
if supporting case law. pls provide it too
09 January 2009
mat credit= mat less tax payable under normal provisions of income tax.
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
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
10 January 2009
There is no case law exactly for the issue.
% to be taken is 33.99 - 11.33.
% to be taken is 33.99 - 11.33.
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..
but it was argued as
mat credit= tax paid u/s 115jb(1)- normal tax
in 115jb(1), it doesn includes cess..
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