TaxTMI 
TaxTMI 
MAT Treatment
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....AT Treatment<br> Query (Issue) Started By: - vikram singh Dated:- 14-3-2014 Last Reply Date:- 15-3-2014 Income Tax<br>Got 3 Replies<br>Income Tax<br>Dear Experts, I want to know that how we can show....
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.... MAT effect in the books of accounts. and how we can utilize MAT entitlement in this current year. please reply... Vikram Singh Reply By CA GOPALJI AGRAWAL: The Reply: It is shown as amount recover....
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....able. On the face of P&L, it is shown as negative provision under the caption MAT credit entitlement. Reply By vikram singh: The Reply: Sir, I have previous three year MAT credit entitlement which....
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.... is show in loan and advance (Assets) heading So can I utilies it. if yes, then how. please guide me sir. Vikram Singh Reply By CA GOPALJI AGRAWAL: The Reply: If your normal tax liability is great....
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....er than current year MAT, then you can set off the difference liability with carried forward MAT credit. Suppose your normal tax liability for the current year is Rs. 100/- and MAT for the current yea....
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....r is 75/- then you can set off extra liability of Rs. 25 (100-75) from carried forward MAT credit if your BF mat is Rs. 25/- or more. If it is less than 25/- say Rs. 20/- then you can set off Rs.20/- ....
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....and pay current tax as 80/<br> Discussion Forum - Knowledge Sharing ....