Even if for instance a company avails deduction us 10AA, or 80I series still it needs to pay MAT @ 15% on book profits. So can't we say that Tax is to be paid even if Income is exempt by way of deduction?
literally no income is exempt
Yes, MAT is still payable...but in future you can take credit of MAT, which is paid by you...
As Per My View, MAT credit is actual benifit, otherwise, for you literally no income Exempt if you are not able to take benefit of MAT credit.i.e if it's lapse without use.
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