minimum alternate tax...
This query is : Resolved
24 April 2008
when is minimum alternate tax applicable?...how is it calculated??...
25 April 2008
Minimum Alternative Tax ( MAT) is payable by a company if the tax liability as per the normal computation of income is less than 10% ( plus surcharge, cess etc.)of the book profit of the company.
MAT is charged @10%( plus surcharge, cess etc.) of the book profit and the book profit is calculated u/s 115JB as certain adjutments ( + and -) to the net profit as disclosed in the profit & loss account.
MAT is charged @10%( plus surcharge, cess etc.) of the book profit and the book profit is calculated u/s 115JB as certain adjutments ( + and -) to the net profit as disclosed in the profit & loss account.
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