Income Tax calculation allows to set off last year losses if same is to be compare with MAT tax?



Calculation of income tax is done after set off losses of last year if we want to compare the same with mat calculation for company as per IT act of India ?

Income Tax calculation allows to set off last year losses if same is to be compare with MAT tax?
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One Reply to “Income Tax calculation allows to set off last year losses if same is to be compare with MAT tax?”

  1. tax payable under normal provisions is derived after deducting all brought forward losses from business and unabsorbed depreciation.
    this is then compared with tax payable under MAT
    The higher of both is paid as tax





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