alleryStart learning →When may the MAT credit be set off under section 115JAA?
AIn the year MAT is paid
BWhen normal tax is payable
CIn the year of liquidation
DOnly on a refund claim
Answer & Solution
Correct answer: B. When normal tax is payable
Sub-section (4) lets the credit be set off in a year when tax becomes payable under the normal provisions rather than MAT.
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