Mat
This query is : Resolved
sahil mahajan
(Querist)
22 June 2013
Is MAT applicable on AOP for A.Y. 2013-2014
CA Kapil Verma
(Expert)
22 June 2013
no, But AMT is applicable u/s 115JC to JF
sahil mahajan
(Querist)
22 June 2013
Diff B/w MAT & AMT
sahil mahajan
(Querist)
22 June 2013
Suppose Trust has income of Rs. 160000/- is seeking exemption under sec 10(23c). How AMt is applicable & how to avoid it.
CA Kapil Verma
(Expert)
22 June 2013
not a major difference please refer the particular section.
sahil mahajan
(Querist)
22 June 2013
trust is AOP. But AMT is applicable if Income Exceeds Rs. 20 Lakh as per Section. But the Smart Tax Software applies AMT on income Of Rs. 160000/- of trust & not seekuing exemption .
CA Kapil Verma
(Expert)
22 June 2013
your software is taking is wrong, contact its customer care or you can directly fill the excel utility of income tax website.
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