Difference between
Querist : Anonymous
Querist : Anonymous
MAT is applicable on companies but AMT is applicable on all non-corporate assesses,but in case of Individual/HUF/AOP/BOI its applicable if adjusted total income of such person is exceed Rs. 20 lac.
MAT is calculated on BOOK profit and AMT is calculated on adjustable total income.
MAT is payable by company on book profit if tax computed under normal provision of IT act is less than MAT.
AMT is payable on adjusted total income if tax computed under normal provision of IT act is less than AMT.
Rate for MAT - 18.5%+ Surcharge+ Cess, For AMT – 18.5% + Cess.
For MAT please refer Chepter XII-B, Sec. 115JB, For AMT Chepter XII-BA,Sec. 115JC of income tax act.
Click here to login now
Similar Resolved Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
