Minimum alternate tax under section 115jb
This query is : Resolved
Rupinder Singh
(Querist)
25 August 2016
Sir/ Maam,
Please explain the above said section in detail.
Thanks and Regards
Rupinder Singh
Please explain the above said section in detail.
Thanks and Regards
Rupinder Singh
CA Ayush Agarwal
(Expert)
25 August 2016
This section is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a company is less than 18.5 % of its books profit in any assessment year beginning from 01.04.2012, then such book profit will be assumed to be the income of the company and tax payable by the company during that financial year will be 18.5 % of such book profit. This is provided u/s 115JB(1).
I would request you to go through section for more detailing.
I would request you to go through section for more detailing.
Rupinder Singh
(Querist)
26 August 2016
Thanks for the information ........can you give calculation of MAT through example.
CA Ayush Agarwal
(Expert)
28 August 2016
Check share files section..u will get such files
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