Corporate Tax

MAT credit not available to companies opting for lower corporate tax rate

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“This option (switchover to lower rate) can be exercised any time so taxpayers can exhaust these carry forwards and then shift to the beneficial tax regime,” said Vikas Vasal, national leader, tax, Grant Thornton in India. Companies availing various tax exemptions, such as under special economic zones schemes, have large MAT credits.

This article appeared in Economic Times on 03rd Oct, 2019.