Are EOU units liable to MAT?
This query is : Open
Sameer Panjwani
(Querist)
11 September 2008
Our company has just got registered as a 100% EOU unit for our Web Services and as a result we would be exempt from income tax. However, I hear of MAT being applicable to all companies now irrespective of being EOU certified, is that true? Also, suppose the net profit for the year is expected to be Rs.2 crore, how much would the MAT work out to and do I have to pay advance tax on this amount. Is there any different way to filing MAT as there is to Income Tax?
chetan soni
(Expert)
11 September 2008
Yes as per new amemdment they are liable. For more clarification see the amendment to section 115 JB.
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