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.
Menu
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
Recent Topics :
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
Related Topics :
CAclubindia
