Re: mat

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2012 Details of TDS , MAT AND Normal tax are as under :

A.Y.2011-12

Normal Tax : 115000
Tax u/s 115 JB : 450000
TDS : 600000
Refund : 150000
MAT Credit available : 335000
A.Y.2012-13

Tax u/s 115 JB : 450000
Normal Tax : 735000
MAT Credit : 335000
Tax Payable : 400000
TDS : 600000
Refund : 200000

Please advise that the above MAR Credit adjustments
are O.K.and the entries to be passed in books.
Thanks in advance.

Prashanth

Prashanth (Expert)
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28 September 2012 Hello,

Mat Credit available for the A.Y.2012-13 is 285000 i.e. (735000-450000)

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2012 Dear Sir,

MAT Credit is available for Rs.285000 , should it not be difference bwtween the normal tax and tax u/s 115 JB IN THE A.Y.2010.11.Please elaborate.Thanks.

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Prashanth

Prashanth (Expert)
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28 September 2012 No it is difference b/w the Tax payable under the normal provisions of the Act Minus Tax payable under section 115JB of the A.Y.2012-13 and not of A.Y.2011-12

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2012 Thanks for the clarification.
Now I am not able to view the accountng entries to be passed.
Will you please help me in this regard.
Thanks.