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MAT credit not available if domestic Co. opts for concessional tax regime u/s 115BAA: CBDT

October 3, 2019
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CBDT has issued clarification with regards to allowability of brought forward, loss on account of additional dep. & MAT credit, in case domestic co. opts for concessional tax regime u/s 115BAA. It has been clarified that MAT credit shall not be available to domestic Co. It may continue with regular tax regime and can opt for new tax regime later on. Taxmann had lent same view in its Analysis of Taxation Laws (Amendment) Ordinance, 2019 [2019] 109 taxmann.com 376 (Article).
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