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preet prakash

preet prakash (Querist)
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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

CA. Mahesh Agarwal

CA. Mahesh Agarwal (Expert)
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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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Akriti Bhatia

Akriti Bhatia (Expert)
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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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