When does MAT actually apply to a company?
shyam sundar
(Article Assisstant)
(183 Points)
Replied 15 June 2010
when the profit as per income tax is less than book profit, MAT applies.
In simple words every company should pay atleast 15% as income tax on their book profits.
Dhawal Mohnot
(Practicing)
(449 Points)
Replied 15 June 2010
Even if it is the 1st year of operation?
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