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    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 Correct Answer Incorrect Answer
    B ₹8 lakh for 15 years Correct Answer Incorrect Answer
    C ₹58 lakh for 15 years Correct Answer Incorrect Answer
    D ₹8 lakh for 10 years Correct Answer Incorrect Answer
    E ₹50 lakh for 15 years Correct Answer Incorrect Answer

    Solution

    • MAT credit = MAT paid – Normal tax = ₹58L – ₹50L = ₹8L. • Current rule: Carry forward up to 15 years.

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