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Tax for pvt ltd

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(Querist)
20 September 2013 In a Pvt Ltd Co, there was a loss of Rs.10 Lakhs in AY 2012-13 & In AY 2013-14 there is a profit of Rs.7 Lakhs. I want to know can we adjust the profit against last year's loss.
Do we need to pay MAT or any another tax.

Thanks
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
20 September 2013 If the company had filed Return of loss for the Assessment Year 2012-2013 with the prescribed time in accordance with Section 139 of the IT Act, the set off can be made....
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