Mat credit entitlement

This query is : Resolved

Report Abuse Follow Query Ask a Query

LAKKARAJU JITENDRA

LAKKARAJU JITENDRA (Querist)
Follow

22 December 2011
What is the mat credit entitlement. Please explain. Is this Current Asset?

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

22 December 2011 MAT credit is the difference between MAT and Income Tax payable as per Income tax act and is a current asset.

For full details on accounting part see this link
https://www.caclubindia.com/share_files/accounting-of-mat-u-s-115jb-4287.asp