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(2A)	AMENDED	01st April 2018 (A.Y. 2018-19)	The amount of MAT shall not be allowed to be carried forward to subsequent year to the extent such credit relates to the difference between the amount of foreign tax credit (FTC) allowed against MAT and FTC allowable against the tax as per regular provisions of Act (Previously the difference was allowed to be carried forward)