18.5% it
This query is : Resolved
01 July 2013
Dear CAClubindia
instead of applying MAT, can I go for 44AD, its a pvt ltd. co. trading in India. Is MAT applicable to Indian co's ? is MAT applicable to Partnership / propriertorship Firm ?? when is MAT applicable?????????
thnx
instead of applying MAT, can I go for 44AD, its a pvt ltd. co. trading in India. Is MAT applicable to Indian co's ? is MAT applicable to Partnership / propriertorship Firm ?? when is MAT applicable?????????
thnx
01 July 2013
It is MAT rate and applicable when taxable income as per income tax act is below than book profits.
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02 July 2013
44AD can not be applied to company. In case of company you have to make books of accounts compulsorily. MAT is applicable if taxable income as per IT act is less than Book profit as per Companies Act
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