Hello experts,
My query is that, in one pvt company P&L shows Loss and as mer MAT also Loss. So the company have current year Business loss can set off against the SLCG & LTCG from Sale of plant and Land. If we set off then after still LTCG available and we set off against the Unabsorbed depreciation of past year.. and still LTCG available on that we need to pay 20% Tax and can we use MAT credit for payment the LTCG.
Thank you
CAclubindia
