Mat treatment in books in conversion into llp from pvt ltd
This query is : Resolved
10 May 2016
Dear expert,
In case of conversion of Pvt Ltd into LLP, as per the provision of section 115JA(7), the succeeding LLP will not be allowed the credit of MAT paid by the preceding company. But how to write off MAT credit entitlement in books of accounts when Pvt Ltd is converted into LLP? And whether it will be written off in Pvt Ltd closing books or in LLP books? What would be the accounting treatment?
In case of conversion of Pvt Ltd into LLP, as per the provision of section 115JA(7), the succeeding LLP will not be allowed the credit of MAT paid by the preceding company. But how to write off MAT credit entitlement in books of accounts when Pvt Ltd is converted into LLP? And whether it will be written off in Pvt Ltd closing books or in LLP books? What would be the accounting treatment?
11 May 2016
Ideally it should be w/o in Pvt Ltd Books. Although it is expenses will not be allowed for tax purpose.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
Trending Online Classes
CAclubindia
