applicabilty of mat on SEC 80IC COMPANIES

This query is : Resolved

CA. AMIT (Querist)
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27 September 2009 HELLO ALL,
MY QUERY IS RELATED TO WHETHER MAT IS APPLICABLE ON EXEMPT PROFIT OF SEC 80IC COMPANIES.

ONE OF THE OUR COMPANY IS LOCATED IN NOTIFIED AREA OF HIMACHAL PRADESH THUS ENJOYING DEDUCTION UNDER SEC 80IC. PROFIT EARNED BY THE COMPANY IS EXEMPT UNDER SEC 80IC. BUT WOULD THE MAT IS APPLICABLE ON THESE TYPES OF COMPANIES. ALSO SPECIFY THE RELEVANT NOTIFICATION AND / OR SEC WHERE IT IS CLEARLY MENTOINED.

REGARDS
CA.AMIT

Kapil Arora

Kapil Arora (Expert)
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27 September 2009 Hello Sir,

We also have the same situation and finally the result is MAT applicable on Book Profit whatever will be situation the MAT have to be paid and thenafter we can claim the deduction in next coming year.....