Mat credit against tax paid on ltcg
This query is : Resolved
niriksha shetty
(Querist)
11 August 2011
my query is if a company is paying MAt for last few years and this year has surplus on account of Long term capital gains is it eligible to set off MAT credit against tax liabilty for LTCG??
Also i want to confirm that Business loss can be set off against Long term capital gains...
Also i want to confirm that Business loss can be set off against Long term capital gains...
Aditya Maheshwari
(Expert)
11 August 2011
Yes MAt credit can be used to pay tax on LTCG.
see the format of ITR 6
and non speculative Business loss can be set off against Long term capital gains...
see the format of ITR 6
and non speculative Business loss can be set off against Long term capital gains...
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