Advance Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2010
Suppose a listed Company has MAT Credit in last F.Y.,but in the current year the tax as per IT Act is more than Tax of S-115JB,in such case we are entitled to take credit of MAT we have ,but whether the Company is entitled to pay Advance tax,even though he has MAT Credit in its books.
13 September 2010
In my opinion, If you have MAT credit in the books, & you are going to pay tax as per regular provisions of the tax, then MAT credit can be deducted from the total tax calculations.
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