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    Question

    A company has MAT liability under Section 115JB of ₹15

    lakh. What is the treatment of MAT credit in future years?
    A Can be carried forward for 10 years Correct Answer Incorrect Answer
    B Can be set off against capital gains Correct Answer Incorrect Answer
    C Allowed only for individuals Correct Answer Incorrect Answer
    D Must be claimed as refund Correct Answer Incorrect Answer
    E No carry forward allowed Correct Answer Incorrect Answer

    Solution

    As per Section 115JAA, MAT credit can be carried forward for up to 10 years and adjusted against normal tax liability when it exceeds MAT in future.

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