budget doubt

Dear Kinnary,

In the previous budget MAT was not removed but its rate was enhanced from 10% of book profits to 15% of book profits. About surcharge you are partly right. Surcharge was removed for all assessees accept domestic and foreign companies. It as maintained as it is @ 10% for domestic companies and 2.5% for foreign companies in last budget. In current budget MAT rate has been enhanced to 18% of book profits and surcharge on domestic companies is reduced to 7.5% while surcharge for foreign companies remain at 2.5%.

Regards

Chintan

Dear Kinnary.........

Agree with CHINTANSHAH..........

Budget 2009 - MAT was not removed - It was increased from 10% of book profits to 15% of book profits.......

Surcharge was removed for all assessees except Domestic and Foreign companies.......

It was 10% for domestic companies and 2.5% for foreign companies........

Budget 2010 - MAT rate has been increased from 15 % to 18% of book profits.........

Surcharge - Domestic companies 7.5% -  Foreign companies 2.5%.

According to the previous budget,

1) MAT was not removed the rate is increased from 10% to 15%. 

2) surcharge was removed for all assessees except domestic, foreign companies & Sec 195.

In according to the current budget,

1) MAT rate has been enhanced to 18% of book profits

2) surcharge on domestic companies is reduced by 2.5% (i.e. 7.5%) & for foreign companies it's remain at 2.5%.