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Mat credit

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(Querist)
18 April 2014 How many years the Credit of MAT can be carried forward for A.Y. 2014-15 under section 115JB ?
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CA ramesh

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CA ramesh (Expert)
19 April 2014 Carried forward is allowed for 5 assessment years after the end of the assessment year . In this case carried forward is allowed up to the assessment year 2019-20
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Rupesh Jain

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Rupesh Jain (Expert)
19 April 2014 Respected Mr Ramesh

at present MAT payable u/s 115JB.
you can carry forward the MAT amount for 10 years. not the 5 year.
MAT u/s 115JA was applicable up to Assessment year 2000-01.
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CA ramesh

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CA ramesh (Expert)
19 April 2014 You are right mr rupesh.
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