MAT
This query is : Resolved
Mayur Joshi
(Querist)
15 July 2009
What does mean by MAT under IT rules ?
15 July 2009
MAT is minimun alternate tax.This is applicable only for companies.This is an option to the corporates to pay either MAT or tax as per their prescribed rates whichever is higher.If the MAT is higher then the corporate had to pay MAT for which they can credit for 10 years which was earlier 7 years.
MAT rate has also been amended from 10% to 15%
MAT rate has also been amended from 10% to 15%
Ankur Garg
(Expert)
16 July 2009
Agree.
MAT has been increased from 10% to 15% by recent budget 2009.
MAT has been increased from 10% to 15% by recent budget 2009.
Mayur Joshi
(Querist)
16 July 2009
Thanks for your kind support
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