Dear All,
i have one query on MAT Credit. Does MAT Credit include Surcharge and Cess also. This question arises on account of disclosure format given in ITR-6. If properly observed, Part B - TTI of ITR-6, asks for first deducting MAT credit from the tax and then asks for adding surcharge and cess. Thus if MAT credit has to be taken before surcharge and cess, according to me when carrying forward the MAT Credit, it also has to include only tax and not surcharge and cess. Please comment, if anyone has any view on this issue.
MAT Credit & Surcharge
Vikas Gandhi (Chartered Accountant) (37 Points)
10 August 2010