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MAT

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(Querist)
29 October 2009 If a company has profit in current year but has carried forward losses which is more then c.y. profit then in this case is company liable for paying mat?
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CA Apurav Agawal

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CA Apurav Agawal (Expert)
29 October 2009 In the adjustments to the net profit as per books, we deduct carried forward losses or unabsorbed depreciation whichever is lower to arrive at figure on which MAT is payable.

So lower of the two will be deducted.
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