AMIT SHARMA (JOB) (52 Points)
30 May 2013My company have MAT credit and also TDS certificate (more than profit).
Wheter there are any provision in Income Tax, that we can utilised TDS and deffered MAT Credit for next year. Whether it is possible, we can use TDS for tax payble for this year and ignore MAT credit for current assessment year,
Jitndr
(Final Student)
(92 Points)
Replied 30 May 2013
1. TDS Credit cannot be deffered to another year.
2. MAT credit can be carry forward for ten years. (Sec 115JAA)
CAclubindia
