MAT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2010
what are the circustanses under which we have to calculate tax by MAT provision, shooud every co. require to compute the tax(Private,limited,Partneship, etc)under MAT
Akbar Mirza
(Expert)
19 May 2010
MAT is applicable only in case of company Assessee.
When the company's P& L A/c shows Loss or Tax payable by the co. as per I.TAX is less than the MAT, then & only then the MAT provisions shall be applicable.
When the company's P& L A/c shows Loss or Tax payable by the co. as per I.TAX is less than the MAT, then & only then the MAT provisions shall be applicable.
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