M Ltd. has Minimum Alternative Tax (MAT) credit of ₹5,20,000 of the assessment year 2018-19. It can carry forward this MAT credit upto __________ assessment years immediately succeeding the assessment year 2018-19.

CS Executive · Tax Laws and Practice · PYQS · June 2019
M Ltd. has Minimum Alternative Tax (MAT) credit of ₹5,20,000 of the assessment year 2018-19. It can carry forward this MAT credit upto __________ assessment years immediately succeeding the assessment year 2018-19.
(A) 5
(B) 10
(C) 15
(D) 20

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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