Mat 115 jb
AJAY (NO) (81 Points)
22 June 2014
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 ?
4 Replies
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 22 June 2014
No.
pay mat and increase your mat credit balance.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 22 June 2014
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.
Pooja
(Final CA)
(502 Points)
Replied 23 June 2014
MAT credit can be used when tax is paid as per normal tax only, when tax is payable as per MAT, MAT credit arises.
AJAY
(NO)
(81 Points)
Replied 23 June 2014
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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