A Domestic company which opts for section 115BAA, is not allowed certain deductions and the MAT credit will also lapse. XYZ Co. wants to avail the benefit of section but it wants to defer for one year so that it can utilize the benefits of deductions and MAT credit. Choose the correct option.
A. The company cannot defer the option.
B. The company has the right to defer the option.
C. The section is compulsory and there is no option.
D. Half deductions and MAT credit will be allowed if option is deferred.
Answer:B
A Domestic company which opts for section 115BAA, is not allowed certain deductions and the MAT credit will also lapse. XYZ Co. wants to avail the benefit of section but it wants to defer for one year so that it can utilize the benefits of deductions and MAT credit. Choose the correct option.
A. The company cannot defer the option. B. The company has the right to defer the option. C. The section is compulsory and there is no option. D. Half deductions and MAT credit will be allowed if option is deferred.