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Mat credit against tax paid on ltcg

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(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...
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Aditya Maheshwari

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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...
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