Mat credit computation

KINDLY SOLVE MY QUERY.

MY MAT CREDIT IS RS 300000/-(B/F BALANCE)

CURRENT YEAR INCOME IS 150000/- AND TDS DEDUCTED IS 30000/-

NOW CURRENT TAX               =  46350/-

TAX ON BOOK PROFIT(MAT) = 28582/-

NOW HOW MUCH SHOULD BE THE MAT CREDIT AVAILED AND THE TAX TREATMENT.

THE CALCULATION AS PER ME IS-

TAX ON REGULAR INCOME = 46350/-

TAX ON BOOK PROFIT(MAT)= 28582/-

HENCE TAX LIABILITY = 46350/-

LESS: MAT CREDIT       = 46350/- ( this credit is taken from the old balance of 300000/- MAT credit)

SO NET TAX LIABILITY = NIL

MAT CREDIT LEFT=300000-46350= 253650/-

AND REFUND OF TDS=30000/-

IS THIS CALCULATION CORRECT?

KINDLY ADVISE.

THANX