Total Income is Rs. 150000
Total Tax (Normal Provision) - Rs. 46800
MAT Tax - Rs. 15600 So, here, Op MAT can be set-off by Rs. 31200 (Rs. 46800 - Rs. 15600) only, and balance Rs. 68800 will be carried forward.
Tax under Normal Provision will be than Rs. 46800 - Rs. 31200 = Rs. 4906
Cess will be added, Advance Tax TDS will be deducted and Interest u/s 234A/B/C will be added, if applied.