Whether deferred tax asset can be adjusted against MAT credit entitlement
Menu
Mat credit
Replies (4)
No DTA can not be adjusted with MAT credit because both are different things.
agree with above
Deferred Tax is calculated and disclosed in order to comply with the Accounting Standard (AS) -22.
Minimum Alternate Tax is to be computed and paid if applicable as covered u/s 115JB of Income Tax Act.
MAT Credit is to be utilized when the company is liable to pay Income Tax as per normal provisions of Income Tax Act.
Hence even the setting off the DTA with MAT credit is not allowed and it does not make sense to utilize MAT credit in reducing DTA.
no DTA cannot adjusted with MAT....
Recent Threads
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
- GST RATE OF OUT DOOR CATERING
- Non resident taxation & income tax in India
- GST Rate for oral Hygiene Combo Pack
- GST registration - Address error
- TDS on property pu
- Import of goods IMS action related
- Incometax Survey - Updated Return Filing after the
Related Threads
CAclubindia
