CAN YOU SUGGEST ME WHERE CAN I INVEST rS. 50000 PA FOR 20YEARS
MY GOAL IS TO ACHIVE 75 TO 1 CRORE IN OTHER 20YEAR .
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Mat & advance tax
plz tell me about calculation of MAT if my Book Profit is Rs 10,000.
Mr. Manish Negi..
If Book Profit be. Rs.10,000. Then, the tax computed as per the provisions of MAT be Rs.1,850 (10,000*18.5%) (EC+SHEC Extra). & if such Tax i.e. MAT exceeds tax computed as per the normal provisions, then MAT shall be deemed as your tax computed as per normal provisions. However, credit of MAT is available in subsequent assessment years on the basis of Sec. 115JAA.
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