DTA+MAT CREDIT

This query is : Resolved

binal salot (Querist)
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30 December 2010 hello,
It is quite urgent

pls tell me that whether DTA can be created on basis of MAT CREDIT and if yes than it should be MAT Credit*30.9%?

Accept my thanks and regards in advance

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 December 2010 When MAT credit is fully recognised in the books of accounts what is the further need to do any further accounting in this.

binal salot

binal salot (Querist)
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07 January 2011 thanks

but MAT credit is not recognized in the books of accounts than whether Deferred Tax Asset can be created and what will be the amt for it?

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 January 2011 If MAT credit not recognised in the books of accounts then the amount of deferred tax would be same as the amount of MAT credit the company would have taken.