How should MAT be presented under Sec 10A and 10B companies?
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Accoounting treatment on MAT
Replies (2)
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.
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