CAN ANYONE PLZ GIVE ME INFORMATION ABOUT MAT APPLICABILITY IN A.Y. 13-14???
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 |
IT |
SC |
EC |
SHEC |
Total |
|
Domestic company |
18.5 |
- |
0.37 |
0.185 |
19.055 |
18.5 |
0.925 |
0.3885 |
0.19425 |
20.00775 |
|
Foreign company |
18.5 |
- |
0.37 |
0.185 |
19.055 |
18.5 |
0.37 |
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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
