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?
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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.
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