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Form 29b filing question

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pooja Kotak

49 Points Posted on 12 June 2023

If i m paying Tax in private company as per income tax act and not as per MAT .

Do I need to file form 29b compulsory??

Replies (3)

Quick Summary

This discussion clarifies whether filing Form 29B is compulsory for private companies. Generally, if your company pays tax under the standard Income Tax Act provisions and not Minimum Alternate Tax (MAT), filing Form 29B is not compulsory. However, it's crucial to file it if the tax paid under normal provisions exceeds the tax payable under MAT, to provide proof. Consulting a tax professional is always recommended for specific advice.

Sanjana Mohanty

90 Points Posted on 12 June 2023

No, filing Form 29B is not compulsory if you are paying tax in a private company as per the Income Tax Act and not under the Minimum Alternate Tax (MAT) provisions. However, it is always advisable to consult with a tax professional or refer to the specific guidelines provided by the tax authorities to ensure compliance with the applicable tax laws.