CBDT: Clarifies on allowability of accumulated MAT credit, additional depreciation for companies availing lower tax-rate

Oct 02,2019

CBDT clarifies that set-off of accumulated MAT credit and brought forward losses on account of additional depreciation shall not be allowed for companies opting for lower tax rate under newly inserted Sec. 115BAA; States that “as there is no time line within which the option u/s. 115BAA can be exercised, it may be noted that a domestic company” having MAT credit / brought forward losses on account of additional depreciation may, if it so desires, exercise the ...


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