Santosh Kumar (C.A) (72 Points)
12 May 2011DEAR MEMBERS ,
WE HAVE A UNIT OF A COMPANY IN SEZ, AS THE SEZ ARE LIABLE FOR MAT FROM 2011-12 CAN THE COMPANY AVAIL THE MAT CREDIT FROM THE SEZ UNIT TOWARDS THE NORMAL TAX OF THE WHOLE COMPANY, IF SO CAN IT AVAIL IN THE SAME FINANCIAL YEAR OR IN THE SUBSEQUENT YEARS
HOPING FOR THE REQUEST AT THE QUICKEST....... ITS URGENT PLSSSSSSSSSSSSSSS
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 15 May 2011
Mr. Santosh,
Plz. read Sec.115JB(6) of Income Tax Act, which says as follows :-
The MAT provisions are not applied to the income accrued or arising on or after 01-04-2005 from any business carried on, or services redered, by an entrepreneur or a developer in a Unit or Special Economic Zone as the case may be.
Santosh Kumar
(C.A)
(72 Points)
Replied 12 August 2011
Mr. Suraj
Thanks for ur reply, but the mat is applicable for the SEZ from the year 2012, so what shall be the mat credit entitlement
CAclubindia
