Mat
This query is : Resolved
24 May 2012
Plz explain MAT?
24 May 2012
Every company has to calculate the amount of MAT payable as follows:
Book Profits * 18.5%
The higher of MAT and the income tax calculated as per the normal provisions of the Act is the tax liability of the company for that year.
Book profits are computed as per Explanation 1 to Section 115JB.
Book Profits * 18.5%
The higher of MAT and the income tax calculated as per the normal provisions of the Act is the tax liability of the company for that year.
Book profits are computed as per Explanation 1 to Section 115JB.
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