Question
ABC Ltd paid ₹12 lakh MAT in FY 2022-23 when normal
tax liability was ₹8 lakh. In FY 2023-24, normal tax liability is ₹14 lakh and MAT is ₹10 lakh. How much MAT credit can be used in FY 2023-24?Solution
MAT credit = MAT paid – regular tax (₹12L – ₹8L = ₹4L). In 2023-24, regular tax exceeds MAT by ₹4L, so ₹4L credit can be used.
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