APPLICABILITY OF MAT & 80 IA

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CA skmnair

CA skmnair (Querist)
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07 August 2007 Please tell me soon, whether MAT is applicable for a company which excempted from Tax U/S 80IA

shipra walia

shipra walia (Expert)
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08 August 2007 yes , MAT is exempted for the companies having income exempt u/s 10A 10B(upto A.Y 2007-08) or sec 11 or 12...
Therefore if a company is eligible for exemption u/s 80IA or IB then it is chargeable under MAT

CA skmnair

CA skmnair (Querist)
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08 August 2007 Thank u Shipra

I couldnt understand one thing that, MAT is excepmted for companies having income u/s 10A 10B how it will affact 80IA IB and , both are different na.

CA Nikita

CA Nikita (Expert)
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08 August 2007 hello!!

Nowhere in the law it is mentioned that MAT is not applicable for a company which exempted from Tax U/S 80IA...but it is specifically mentioned that MAT is exempted for the companies having income exempt u/s 10A 10B(upto A.Y 2007-08) or sec 11 or 12..