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Mat credit utilization

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 March 2012
Dear Sir,

My query regarding MAT Credit Utilization. for e.g Our Company having MAT credit Past 2 years. Now we would like to utilize it, suppose there whould not be High book profit for following year

Please suggest, whether we can Utilize the MAT Credit for current year Tax Liability.

Regards,

Shriniwas Perala
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 March 2012 In the current year if the tax payable as normal provisions is higher than the tax payable as per MAT, then MAT credit can be utilized.

However, MAT credit to be utilized shall be calculated as follows:

Income tax as per normal provisions
Less: Tax calculated as per MAT
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