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MAT credit...
what will be the accounting treatment of MAT credit ?
Replies (5)
The provisions of MAT are applicable to a corporate taxpayer only.
The provisions relating to AMT are applicable to non-corporate taxpayers in a modified pattern in the form of Alternate Minimum Tax, i.e., AMT. Thus, it can be said that MAT applies to companies and AMT applies to a person other than a company.
My doubt is what will be its treatment in books of accounts?
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