Minimum alternative tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2014
IS MAT APPLICABLE FOR FOREIGN COMPANY OR NOT DESCRIBE IN DETAIL
26 August 2014
The Authority for Advance Ruling (“AAR”) has delivered an important ruling in the
case of The Timken Company holding that the provisions of section 115JB of the
Income-tax Act, 1961 (“the Act”) levying Minimum Alternate Tax (“MAT”) on the book
profit of a company would not apply to a foreign company not having any physical
presence in India.
case of The Timken Company holding that the provisions of section 115JB of the
Income-tax Act, 1961 (“the Act”) levying Minimum Alternate Tax (“MAT”) on the book
profit of a company would not apply to a foreign company not having any physical
presence in India.
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