Query on mat

Dear Avinash yes you can take the benifit of previous year losses against the profit this year if you have filled you previous year I.t return mentioning the same before due date. Yes mat will be applicable in your case and it is basically tax on turnover and you have pay taxes according to mat. But you can the credit of the same in later years as per mat provisions. I hope it will help you.

MAT will applicable in normal the only thing is if your tax liability is less than the MAT then you have to pay MAT other wise you have to pay tax amount calculated as per normal provisions