Rationalisati on of Provisions relating to tax credit for Minimum Alternate Tax :
| CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
| 46&48 | Rationalisati on of Provisions relating to tax credit for Minimum Alternate Tax |
115JAA(3A) | AMENDED |
01st April 2018 (A.Y. 2018-19) |
It is proposed that the MAT credit could be carried forward up to 15 assessment years immediately succeeding the assessment years in which such credit becomes allowable.
(Previously MAT credit could be carried forward only |