MAT Form 29B applicability

Tax queries 370 views 1 replies

Shobhit Jain

5096 Points Joined October 2013

I had filed an income tax return for the company. Last year the company had a loss of around Rs 24,000/- and profit in current period Rs 5,500. Now as per MAT, the company is liable to pay Rs 1000 (not the exact amount).

Since company has paid tas as per MAT, will the company be liable to file form 29B??

Replies (1)

CA Aakarsh Jain

10431 Points Joined March 2019

Form 29B is only filed when you are availing MAT credit. Since you are paying tax as per MAT so you have to file this form through a CA.
You can contact me if you need any help on ajaakarshjain16 @ gmail.com.