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Minimum alteration tax

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(Querist)
19 November 2011 If our co Profit as per P & l is 100000/- & profit as per MAT is Rs.150000/- then on which amout tax will be paid & pecrcentage or on both the amount.
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Vrinda Aghi

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Vrinda Aghi (Expert)
19 November 2011 You have to pay the higher of the two: Read Section 115JB. the reason why MAT got into picture was lot of companies who had tax exemptions were paying very little tax or no tax at all. That is why MAT provisions were brought in.
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