Mat credit utilization
This query is : Resolved
Querist : Anonymous
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
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
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
However, MAT credit to be utilized shall be calculated as follows:
Income tax as per normal provisions
Less: Tax calculated as per MAT
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- NRI starting business in India
- GST rate and HSN code for sale of racing horses
- Filling ITR - U
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
