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M a t provisions - applicability

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(Querist)
29 September 2018 Dear Sir,
Whether MAT provisions are applicable only to the companies or other than companies such as proprietory, individuals etc, kindly clarify
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 October 2018 MAT is applicable to Company u/s 115JB, every taxpayer being a company is liable to pay MAT, if the Incometax(including surcharge and cess) payable on the total income, computed as per the provisions of the Income-tax Act in respect of any year is less than 18.50% of its book-profit + surcharge (SC) + education cess (EC) + secondary and higher education cess.

The provisions of AMT or Alternate Minimum Taxation are applicable to non-corporate taxpayers in a modified pattern. AMT applies to a person other than a company. The provisions relating to AMT is given under Sections 115JC to 115JF.AMT is applicable to LLPs and Non-corporate assessee
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