Income tax computation
This query is : Resolved
24 April 2014
X Ltd company is claiming exemption under 80IA, 80IAB from 4 years in calculation of income tax as per income tax act, due to 80IA, 80IAB exemption They calculating tax as per MAT..., current year XLtd is having Loss as per Income tax act, as well as book loss for MAT.. what is tax treatment....What is the MAT Credit treatment???
26 April 2014
There will be no levy of MAT. Losses as per it act shall be c/f normly. MAT credit can be availed only when normal tax is greater than MAT. Here there is no tax payble hence no ques of credit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
