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CAN ANYONE PLZ GIVE ME INFORMATION ABOUT MAT APPLICABILITY IN A.Y. 13-14???
A book profit does not exceed Rs. 1 crore
A book profit exceeds Rs. 1 crore
IT
SC
EC
SHEC
Total
Domestic company
18.5
-
0.37
0.185
19.055
0.925
0.3885
0.19425
20.00775
Foreign company
0.3774
0.1887
19.4361
I have read somewhere that it is applicable to all assessee from a.y. 13-14. can you plz give some inf about it??
Yes, me too. Its (AMT) Alternate Minimum Tax, which applies when the adjusted taxable income exceeds Rs. 20 lacs and charges 18.5% + cess u/s 115JC. Don't know much, though.
Hey MAT is applicable to all assesse subject to the condition mentioned in sec.115JB
Correct me if I am wrong, MAT is for companies and AMT is for LLP and now after this budget, AMT is applicable to individual as well.
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