Tax payable of ABC ltd as per taxable income is 30L (which includes tax of business 15L + LTCG 10L + tax on dividend sec 115BBDA 5L).
Tax payable as per MAT is 40L.
What will be MAT credit available?
10L(40L - 30L) or 25L(40L - 15L)?
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MAT query
Replies (3)
MAT credit available Rs 10 lacs , Next year if normal provision tax is more and per Income tax act is less ,credit can be utilized .
Please confirm with others
MAT credit will be 10lacs only. Mat is only applicable on business incomes i.e. Net Profit. As LTCG n Dividend tax is not your business income credit is not allowed.
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