Tax
This query is : Resolved
19 October 2013
Hi
Pl rerer : https://www.caclubindia.com/articles/what-is-minimum-alternate-tax-mat--17597.asp
Thanks//VaibhavJ
Pl rerer : https://www.caclubindia.com/articles/what-is-minimum-alternate-tax-mat--17597.asp
Thanks//VaibhavJ
19 October 2013
The concept of Minimum Alternate Tax
(MAT) was introduced in the direct tax
system to make sure that companies
having large profits and declaring
substantial dividends to shareholders
but who were not contributing to the
Govt by way of corporate tax, by taking
advantage of the various incentives and
exemptions provided in the Income-tax
Act, pay a fixed percentage of book
profit as minimum alternate tax.
Section 115JB, inserted by the Finance
Act, 2000 has cast a responsibility on
the chartered accountant to certify that
the book profit has been computed in
accordance with the provisions of the
Income-tax Act. He has also to certify
the income-tax payable by the
company.
(MAT) was introduced in the direct tax
system to make sure that companies
having large profits and declaring
substantial dividends to shareholders
but who were not contributing to the
Govt by way of corporate tax, by taking
advantage of the various incentives and
exemptions provided in the Income-tax
Act, pay a fixed percentage of book
profit as minimum alternate tax.
Section 115JB, inserted by the Finance
Act, 2000 has cast a responsibility on
the chartered accountant to certify that
the book profit has been computed in
accordance with the provisions of the
Income-tax Act. He has also to certify
the income-tax payable by the
company.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- TDS _Long term Capital Gain ref.sec 214 Table 2
- ITR-Capital Gain
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
