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TMI BlogMAT TreatmentX X X X Extracts X X X X X X X X Extracts X X X X ..... MAT Treatment X X X X Extracts X X X X X X X X Extracts X X X X ..... w 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 recove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rable. 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 whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h 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 grea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter 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 ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar 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/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and pay current tax as 80/ X X X X Extracts X X X X X X X X Extracts X X X X
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