Can some tell me for how many year we can take Credit for MAT and what are others pros & cons?????
ALSO HAPPY DIWALI TO ALL
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Credit for MAT
Replies (5)
MAT credit adjustment period has been increased from 2 to 7 years during last year's union finance budget. Kindly refer Sec. 115JAA (3A).
Refer Sec. 115 JAA (3A).
Thanks a lott Mr. Sathish Karunakaran & Mr.KAPIL G. THAKORE
Have a nice and enjoyble Diwali
PLS LET US KNOW IF MAT EXCESS DEPOSITED SO WE CAN ADJUST IN NEXT YEAR MAT LIABILITIES
Mat Credit shall not be allowed beyond the seventh assessment year immediately succeeding the assessment year in which tax credit becomes allowable under sub-section (1A) of Section 115JAA
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