Question

A company’s normal tax liability is ₹50 lakh, but MAT under Sec 115JB is ₹58 lakh. If MAT credit is allowed, how much can be carried forward, and for how many years as per current law?

A ₹8 lakh for 5 years
B ₹8 lakh for 15 years
C ₹58 lakh for 15 years
D ₹8 lakh for 10 years
E ₹50 lakh for 15 years
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