mat tax
This query is : Resolved
06 September 2009
Is mat credit constitute any defferd tax asset or to say weather while calculatin g the DTA or DTL should we take into account the mat credit we entitled to.Many public co reports i see they recognize the mat tax credit as income and shown it in to the asset side of b\s. under the head loans&advances. moreover many c.a firm includes the mat tax credit in the deffered tax asset or liability schedual.
also state any guideline provided by icai
and also mention any case law for the same
also state any guideline provided by icai
and also mention any case law for the same
06 September 2009
yes, Deferred tax is to be created on tax paid under mat.
Mat paid is to be shown u/h L & A and its Deferred tax is to be treated as per AS-22
Mat paid is to be shown u/h L & A and its Deferred tax is to be treated as per AS-22
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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Rental income gst and it purpose
- Management System (IMS)
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Goods sold but invoice not issued
- 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
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
