MAT Credit

BOOK MAT CREDIT IN BALANCE SHEET

at the time of making provision for MAT (when finalizing financial statements as at 31st March)....

as it shud be incorporated in the accounts os the year to which ot relates.

Thanks again Sir...

Kindly also confirm the given below accounting enteries:

For MAT provision

Profit & Loss account             Dr

      To Provision for MAT

(with the amount  of MAT + Interest u/s 234B & 234C)

For MAT Credit

MAT Credit Entitlement           Dr

     To Profit & Loss Account

(with the amount of MAT only)

Kindiest request that support your answer with reference

Best Regards,

Hammad

Can anyone suggest on above????