Treatment of MAT Credit with Normal Income

This query is : Resolved

HITESH KHONA (Querist)
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07 April 2011 HI All,
I have following query

MAT Credit for 1st 3 years is
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
So total 125 Cr

Normal Tax for Yr 1 to 5
Yr 1 to 3 is 0
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr

MAT for Yr 1 to 5
Yr 1 :- 50 Cr
Yr 2 :- 50 Cr
Yr 3 :- 25 Cr
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr

So now what should be the MAT Credit eligible for set off for Yr 4 & 5
Please reply ASAP

And
Thanks in Advance

Regards

CA Navin Jain

CA Navin Jain (Expert)
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07 April 2011 MAT CREDIT

NORMAL TAX
Yr 4 :- 35 Cr
Yr 5 :- 20 Cr

LESS:- MAT
Yr 4 :- 15 Cr
Yr 5 :- 10 Cr

MAT CREDIT AVAILABLE
Yr 4 :- 20 Cr
Yr 5 :- 10 Cr

HITESH KHONA

HITESH KHONA (Querist)
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07 April 2011 Thanks a lot Mr Navin Jain
Regards
Hitesh

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CA Navin Jain

CA Navin Jain (Expert)
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07 April 2011 MOST WELCOME