Mat
This query is : Resolved
09 March 2012
what is the fullform of MAT ? and wt is its importance?
10 March 2012
Minimum Alternate Tax.
It applies to all companies.
A company is required to calculate tax as per the normal provisions & tax as per MAT.
The higher of the two is the final tax liability of the company and has to be paid by the company.
It applies to all companies.
A company is required to calculate tax as per the normal provisions & tax as per MAT.
The higher of the two is the final tax liability of the company and has to be paid by the company.
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13 March 2012
in which circumstances MAT will be followed by any company?? every year is it necessary to calculate i. tax as per normal provisions of i.tax act 1961 and MAT? and higher of the two will be paid??
13 March 2012
Yes, the procedure is to be followed each and every year. It is mandatory to follow the same. Every year higher of the two shall be deposited as tax.
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