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Mat 115 jb
we can use mat credit against normal tax liabilities.. (up to 10 years ) but ,
can we use mat ctredit to pay mat for the next year ?
Replies (4)
No.
pay mat and increase your mat credit balance.
no, you cannot take credit pf mat for payment of mat next year. mat credit will be increased every year and will be available for adjustment with income tax payable.
MAT credit can be used when tax is paid as per normal tax only, when tax is payable as per MAT, MAT credit arises.
Thank u all
I think Tax Dept. Shall directly say that no company is exm. Frm tax , they have to pay at least 18.5% tax
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