 "CBDT issues clarifications for MAT calculation")
Companies opting for Indian Accounting Standards (Ind-AS) may use marked-to-market (MTM) losses for the purpose of Minimum Alternate Tax (MAT) regarding financial instruments such as equity for the purpose of trading.
MTM is the revaluing of assets are current prices. These companies need not do further adjustment for these losses in their profit and loss (P&L) accounts, since these are allowed under the MAT provisions. The Central Board of Direct Taxes (CBDT) issued a list of ‘Frequently Asked Questions’ (FAQs) on the subject, to clarify doubts from companies relating to amendments in the MAT provisions to align these with Ind-AS.
Explaining the
