As per the guidance for MAT, whether the MAT paid should be charged off to P&L a/c
and the in year in which it is available, an asset has to be created by crediting the P&L a/c.The only thing is that whether any provision for tax is to be made when there is only MAT applicable to the particular company.Please clarify on the above issue.
Accounting for MAT
K.Samish (C.A) (34 Points)
25 October 2007