MAT - Tax on Gross Assets- Whether fair and logical?

Hiral Raja , Last updated: 25 August 2009  
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Under the erstwhile Income Tax Act, 1961, MAT was levied u/s. 115 JB on book profits. The idea of levying MAT on book profits was to ensure that the entity pays tax at least on book profits even though the tax payable by it under the Income Tax Act comes to be lower than tax computed on book profits

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Hiral Raja
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Category Income Tax   Report

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