115JAA Credit of Surchage & Edu.Cess

[OMPRAKASH PRABHU]

Whether assesses are eligible to avail credit of surcharge and education cess (U/s 115JAA) paid on Minimum Alternate Tax ? If not eligible to get credit of surcharge and education cess why ?

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Credit of surcharge and education cess on MAT: whether taxpayers can claim that tax credit under the statutory scheme. Whether taxpayers may claim credit of surcharge and education cess paid in respect of the Minimum Alternate Tax is the core question, seeking determination of eligibility to set off or carry forward such credit under the statutory tax-credit mechanism; the forum reply requests confirmation whether the issue has been clarified and asks for further information if not.