Set off of Business Loss under MAT

Umesh,

To arrive at Book profit u/s 115 JB,

 "the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account shall be reduced from the Net Profit as per Profit & Loss Account " 

Hello Shekhar,

Thanks! Can you please however answer this example:

A Pvt Ltd Company has b/f business loss of Rs.75000 available for set-off from the past 2 years.. In AY 12-13, it makes a Business profit of Rs.30000. By ordinary provisions, no tax is payable and b/f business loss will be carried forward to the extent of Rs.45000 now. But is any tax payable due to MAT provisions? If yes, please elaborate.

Note: This Company doesn't have any Fixed Asset so question of Depreciation does not arise.

hey, pls confirm : Losses to be set off under MAT provision should not be of more than 8 years right?

I mean if there is loss of AY 2001-02 then it cannot be set off in AY 11-12? right?