Mat u/s 115jb

This query is : Resolved

Shankar Rao (Querist)
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26 August 2011 Dear all

I have filed the return of Income of a company for the Asst Year 2009-10 & 2010-11 by mistake I have not calulated the MAT for both the asst year. In fact MAT comes to Rs. 90,000 for the asst Year 2009-10 & Rs. 56000 for the asst Year 2010-11 Now the Assessing officer has sent a demand notice for Rs 90,000 for the asst year 2009-10. Now my question is
1) If now I paid MAT of Rs. 90000 for the asst year 2009-10 in responce intimation U/s 143(1) Can I claim this 90000 against Income tax payable for the asst year 2011-12.
2) what to do in respect of MAT payable of Rs. 56,000 for the asst year 2010-11 as as return already filed on 25.06.2010
For the three years it is tax audit case.

Kindly let me know

Thanks in advance

CA Hardik Bunha

CA Hardik Bunha (Expert)
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27 August 2011 (1) NO
(2) HERE U HAVE A OPTION FOR REVISE RETURN.

FOR YOUR KIND INFORMATION IF RETURN FILED BY MISTAKE AND U WANT TO TAKE ANY BENEFIT AS PER IT ACT. THEN WAIT FOR INTIMATION U/S 143(1) AND THEN MAKE ''REVISION'' AGAINST U/S 143(1).
YOU COULD NOT DECLARE HIGHER INCOME AS COMPARED TO ORIGINAL RETURN.

CA. Nitin Agrawal

CA. Nitin Agrawal (Expert)
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27 August 2011 Dear Mr. Shankar Rao

1. You may claim the credit of Rs 90K paid
as MAT in response to notice u.s 143(1).

2. Better to file revise return for the
AY 2010-11 u/s 139(5)and pay MAT of Rs
56K. The same can be filled only when the
assessment has not been completed by the
A.O.

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