Diff. btwn mat & amt
This query is : Resolved
07 December 2012
Whaterat is difference between minimum alternate tax & Alternate minimum tax?
07 December 2012
MAT is leviable on companies while AMT is leviable on Limited Liability Partnerships.
Also there is a difference in the way of calculation of both of them.
Also there is a difference in the way of calculation of both of them.
07 December 2012
Further, MAT is computed on the book profit computed as per Explanation 1 to Section 115JB.
AMT is computed on the book profit computed as per the provisions of Section 28 to 43D (i.e. normal business income)
AMT is computed on the book profit computed as per the provisions of Section 28 to 43D (i.e. normal business income)
23 January 2016
http://taxguru.in/income-tax/minimum-alternate-tax-alternate-minimum-tax-provisions.html
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