Query on MAT

This query is : Resolved

Devendra (Querist)
Follow

13 August 2010 Following are my queries, please help me solve them:-

1)If XYZ Pvt. Ltd. has a book profit after all adjustments of Rs. 3860011 on which tax comes to Rs. 1192743. Is it still liable to pay MAT ? Or is it the tax calculated (ie. Rs. 1192743) the MAT liability for XYZ Pvt. Ltd.?

2)If XYZ Pvt. Ltd. has a loss of Rs. 3756000. after all adjustments. Is it liable to pay MAT?

Kuldeep Verma

Kuldeep Verma (Expert)
Follow

14 August 2010 For AY 2010-11, Mat rate is 15%, by that Mat comes 579000(appx) but tax as per IT is higher than Mat that why have to pay Tax for Rs 1192743.But if you have Mat credit available than u can utilise that to pay less tax.
secondly, if company has loss and after all adjustments of Mat, the book profit still negative than he is not liable to pay Mat.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

NISHANT SIPANI

shanmukha sai

Rohit Sachdeva

Angadi & Co

Subscribe Now

Query on MAT

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

CA Final

Accountant

GST CONSULTANT

GST CONSULTANCY