Mat credit entitlement
This query is : Resolved
LAKKARAJU JITENDRA
(Querist)
22 December 2011
What is the mat credit entitlement. Please explain. Is this Current Asset?
What is the mat credit entitlement. Please explain. Is this Current Asset?
Aditya Maheshwari
(Expert)
22 December 2011
MAT credit is the difference between MAT and Income Tax payable as per Income tax act and is a current asset.
For full details on accounting part see this link
https://www.caclubindia.com/share_files/accounting-of-mat-u-s-115jb-4287.asp
For full details on accounting part see this link
https://www.caclubindia.com/share_files/accounting-of-mat-u-s-115jb-4287.asp
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