Hi all,
my query is one of my friends client is having carry forward losses for an amount of 90 lakhs.
current year books shows profit, whether they can adjust the profit to brought forward losses or MAT will be applicable.
Please help me here
Thanks in advance
Prasad
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MAT or set off of carry forward loss against profit
Replies (1)
MAT will be applicable
Lower of unabsorbed depreciation or Brought Forward loss will be allowed while computing the tax under MAT provision....
Lower of unabsorbed depreciation or Brought Forward loss will be allowed while computing the tax under MAT provision....
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