Our company has just got registered as a 100% EOU unit for our Web Services and as a result we would be exempt from income tax. However, I hear of MAT being applicable to all companies now irrespective of being EOU certified, is that true? Also, suppose the net profit for the year is expected to be Rs.2 crore, how much would the MAT work out to and do I have to pay advance tax on this amount. Is there any different way to filing MAT as there is to Income Tax?
CAclubindia
