20 September 2012
HOW TO JOURNALISE ENTRY FOR MAT ? WHETHER IT IS REQUIRED TO ADJUST IN P & L A/C OR NOT ? PLEASE PROVIDE ME ACTUAL ACCOUNTING CONCEPT REGARDING MAT ....
20 September 2012
It is normal entry of Provision for Income tax only. We need to provide either MAT or actual Income tax provision. so when the company need to pay MAT the actual income tax provision will not come and if we need to pay actual provision, no mat provision apply. so Dr: P&l a/c Cr: Provision for Income tax (either actual tax or MAT)
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