Is MAT Credit Lapsing This Year? Apply This Tax Planning Method.

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Companies have to pay minimum alternate tax in India  (MAT) .Section 115JAA of the Income Tax Act provides that when t MAT tax paid u/s 115JB is more than actual tax liability as per Income Tax Act, the extra amount of MAT paid can be carried forward for next 10 assessment years as MAT credit . You can read more about the mat credit meaning in article titled   MAT Credit u/s 115JAA Simplified ! .

In case the time period for adjusting the available MAT credit is lapsing , one can follow the tax planning method for saving the benefit to be lapsed . Its simple !

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