Hello Sir,
I have a Queries about MAT
Please tell me If I have a Loss In Pvt. Ltd. Company ( no provision income & loss) = 1,00,000/-
& in next year I got the profit in same business is Rs = 50,000/-
can i taking a set-off from last year loss?
& if Yes Then Can I applicable for Mat on this Rs.50,000/- ?
Dear Ravi Sir,
Kindly tell the amount of Unabsorbed depreciation also, because if the unabsorbed dep. is nil in your case, then unabsorbed loss can't be set off from the current year profit.. (as lesser of them is considered while calculating book profit for MAT).
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
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