Mat Credit While computing115JB
Amarjeet Singh (Chartered Accountant) (152 Points)
04 November 2007
can i take the claim of mat credit while computing book profit u/s 115JB.
3 Replies
Niranjan
(student)
(40 Points)
Replied 06 November 2007
we can carry forward mat credit as per the following calculation the steps are like this
First Take tax as per Mat
Second take tax rate on Book Profit before setting off losses .
Difference betwen first and second step is MAt credit to be carried forward u/s. 115JAA
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