Taxability of mat credit entitlement

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CA. YASH DILIPBHAI HARIYANI (Querist)
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15 June 2015 Hello Sir,

In my Profit and Loss account I have credited Rs. 152,000 as MAt credit Entitlement and An asset has been created, then in this year while computing the Book Profit How will I reduce the amount of MAT Credit i.e. Rs 152,000 cos actually that is not my income but I want the clause as per which I can deduct rS 152000 WHILE COMPUTING MY BOOK PROFIT is IT FALLING under Chapter III i.e. incomes not forming part of total income?

CA. YASH DILIPBHAI HARIYANI

CA. YASH DILIPBHAI HARIYANI (Querist)
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15 June 2015 The entry which I have passed is

MAT credit Entitlement A/c Dr. 152000(BS)
To MAT Credit 152000 (Income )

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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26 July 2025 https://docs.google.com/document/d/13No9yNXwSMC8yFgeh1tpo0SxmZsVVR6lcUP6CH8XlDo/edit?usp=sharing

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