Minimum alternate tax
This query is : Resolved
E.K.Raghavendra
(Querist)
05 January 2009
Sir can you please explain me the meaning of minimum alternate tax?
05 January 2009
mat is the amount of tax which is beared by the comapany if its tax lia under normal provisions is less than 10% of book profit.
that means co has to pay 10% tax on book profits. these kind of situations generally arises in case of assessee having losses to set off.
that means co has to pay 10% tax on book profits. these kind of situations generally arises in case of assessee having losses to set off.
06 January 2009
Tax Calculation to be made as per income tax act and also MAT Whichever is higher Co.has to pay
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