MAT Minimum Alternative Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2010
What is MAT? How to calculate MAT
02 March 2010
Refer section 115JB of the Income Tax Act.
MAT is applicable only in case of companies, when the Income tax payable on taxable income is less than 15% (now 18% as amended by Budget 2010) of its book profit. Such book profit will be deemed as total income of the assessee and the tax payable the assessee on such total income shall be the amount of INcome tax at the rate of 15% (or 18%).
Regards
MAT is applicable only in case of companies, when the Income tax payable on taxable income is less than 15% (now 18% as amended by Budget 2010) of its book profit. Such book profit will be deemed as total income of the assessee and the tax payable the assessee on such total income shall be the amount of INcome tax at the rate of 15% (or 18%).
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
