Whether Interest U/s. 234B & 234C of the Income Tax Act, 1961 is leviable where the copany has a Book Profit and Net Tax Payable if as per Section 115JB (MAT Tax) of theIncome Tax Act, 1961.
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Oh, yes, amount calculated under 115JB (MAT) minimum alternate tax on the basis of book profit is nothing but a tax which takes place when the regular tax is lower that mat. Interest u/s 234B and 234C are squarely applicable.
Yes, you need to pay interest under 234B and 234C on MAT also.
This is a much debatable issue. Case of Kwality Biscuit is to be referred