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MAT credit under Section 115JAA can be carried forward for:
AIndefinitely
B10 AYs
C8 AYs
D15 AYs
Answer & Solution
Correct answer: D. 15 AYs
1. Section 115JAA permits MAT credit for set-off in subsequent years.
2. Carry forward period: 15 AYs (extended from 10 by Finance Act 2017).
3. Set-off allowed to extent of difference between normal tax and MAT.
_Source: ICAI BoS CA Final Paper 7, Ch 9 "Assessment of Various Entities"_
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