Hi All,
If total income ascertained under normal computation is negative, and there is a situation where tax is payable as per 115JB, can the entire tax paid under 115JB be carried forward for the subsequent assessment years?
Menu
MAT Credit
Replies (3)
Yes....you can carry forward it. The concept behind the MAT cr. is the excess of MAT paid over the normal rates. It can be carried forward and can be set off in the next 10 consecative AY against the normal tax rates.
yes i agree with swati.
Will carry forward be allowed under DTC regime.
Recent Threads
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
- Joint Venture address proof under GST
- Leave encashment exemption limit
Related Threads
CAclubindia
