Tax credit in respect of MAT paid as per section 115JB will be allowed only in the previous year in which the tax payable on the total income at the normal rate is —

CS Executive · Tax Laws and Practice · PYQS · June 2016
Tax credit in respect of MAT paid as per section 115JB will be allowed only in the previous year in which the tax payable on the total income at the normal rate is —
(A) More than the tax payable under section 115JB
(B) Less than the tax payable under section 115JB
(C) Equal to the tax payable under section 115JB
(D) All of the above.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic