Number of years for which credit of MAT excess paid under section 115JB can be carried forward is —

CS Executive · Tax Laws and Practice · PYQS · December 2014
Number of years for which credit of MAT excess paid under section 115JB can be carried forward is —
(A) 7 Assessment years
(B) 8 Assessment years
(C) 10 Assessment years
(D) 9 Assessment years.

Answer & Explanation:

Correct Answer: Option (C)

Correct answer: (C) 10 Assessment years. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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