Hello Mr.Narayan,
As Section 115JB of the Income tax act clearly states, MAT is applicable to companies only. There is no room for any confusion here.
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Is MAT applicable for Partnership Firms?
MAT is applicable to only those assessee whose books of accounts are prepared according to the schedule VI of companies act, 1956. as firms / LLP's books of accounts are not prepared by the act MAT is not applicable to firms / LLP's
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