tax

This query is : Resolved

Share Report Follow Query Ask a Query

poornima

poornima (Querist)
Follow

28 October 2009 what is mat? and how it is treated?

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

28 October 2009 MAT is minimum alternative tax section 115JA was replaced by
section 115JB for assessment years 2001-02 onwards. As per
this section, your normal tax payable is to be compared with
7.5% of your book profits and you are required to pay the
higher of the two. From assessment year 2007-2008 onwards
your normal tax payable will be compared with 10% of book
profits are your required to pay the higher of the two.
Credit for MAT paid can be carried forward under section
115JAA for 7 years.

poornima

poornima (Querist)
Follow

30 October 2009 thank you sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R M Shekhaliya

Amit Goyal

SHRI HARIRAO

Frank

Pushkar Nagda

Subscribe Now

tax

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

CA Final

GST CONSULTANT

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance