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MAT Credit

This query is : Resolved 
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(Querist)
18 September 2010 the assessee has paid MAT alongwith cess. whether credit allowable alongwith cess against regular tax?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
18 September 2010 Only basic tax can be taken as credit. YOu can confirm with the format of ITR.

When credit is taken of basic only credit will be utilised against tax only.

The net effect is same.

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