Dear Sir,
A company is having say loss of Rs. 1.35 Cr for the previous few year. There is no fixed asset so loss as per income tax and Companies act are same.
In current year the company is having some income . I want to know if MAT is applicable on this company or can the book loss be adjusted against book profit. before computing MAT.
Please clarify
Thank you
Ritu Agarwal
CAclubindia
