Accoounting treatment on MAT

Dear Sujatha,

Based on Guidance Note on Accounting Treatment of Mat Credit - Tax paid u/s 115JB can be recognised as an asset..

But since Sec 10A/10B companies enjoys the tax holiday for 10 years & MAT credit can be carried forward for 7 years only, therefore It should not recognize MAT credit in respect of first 3 years atleast..

Mr Amir thanks for infromation.