Treatment of MAT Credit with Normal Income
This query is : Resolved
HITESH KHONA
(Querist)
07 April 2011
HI All,
I have following query
MAT Credit for 1st 3 years is
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
So total 125 Cr
Normal Tax for Yr 1 to 5
Yr 1 to 3 is 0
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr
MAT for Yr 1 to 5
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr
So now what should be the MAT Credit eligible for set off for Yr 4 & 5
Please reply ASAP
And
Thanks in Advance
Regards
I have following query
MAT Credit for 1st 3 years is
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
So total 125 Cr
Normal Tax for Yr 1 to 5
Yr 1 to 3 is 0
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr
MAT for Yr 1 to 5
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr
So now what should be the MAT Credit eligible for set off for Yr 4 & 5
Please reply ASAP
And
Thanks in Advance
Regards
CA Navin Jain
(Expert)
07 April 2011
MAT CREDIT
NORMAL TAX
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr
LESS:- MAT
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr
MAT CREDIT AVAILABLE
Yr 4 :- 20 Cr
Yr 5 :- 10 Cr
NORMAL TAX
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr
LESS:- MAT
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr
MAT CREDIT AVAILABLE
Yr 4 :- 20 Cr
Yr 5 :- 10 Cr
HITESH KHONA
(Querist)
07 April 2011
Thanks a lot Mr Navin Jain
Regards
Hitesh
Regards
Hitesh
CA Navin Jain
(Expert)
07 April 2011
MOST WELCOME
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