MAT During Tax Holiday Period

The provision of Section 115JB will not be applicable in respect of income accrued or arising after 31^st March 2005 from any business carried on in a unit or Special Economic Zone as the case may be.

In view of this please check the facts and applicability of provision of the Section in your case.

hiiiiii,

as per sec115 JB the 10% tax liability of the co. is applicable to the co. who is require to pay tax so MAT credit will not aplicable on tax holiday co. under sec  80IA 80 IB

will companies availing deduction under section 80 IA of the income tax act be liable to MAT?

Also how is the accounting done for copanies operating captive power plants, is there a seperate guidance note or notification etc for it.