03 June 2011
Only the difference between tax payable as per normal provisions of income tax act and tax payable as per section 115JB can be taken as credit in the year in which company pays income tax as per normal provisions of the Income Tax Act.
03 June 2011
Dear Aditya I am not asking for adjustment in FY 2010-11. I want to know whether MAT Credit can be utilised after end(FY 2010-11) of Tax Holiday Period against Advance tAX Liability Of next FY (2011-12)