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PROVISIONS OF MAT - Rates - [Sec. 115JB(1)]

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..... han 15% of its book profits, such book profits shall be deemed to be the total income of the assessee and the tax payable on such total income shall be the amount of income-tax at the rate of 15%. Thus in case of a domestic company , the income tax payable shall be the higher of the following amounts: Tax on total income computed as per the normal provisions of the income tax act by .....

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..... crore 15% of the Book Profits plus 2% surcharge where book profits exceed 1 crore surcharge of 5% where book profits exceeds 10 crore AMENDMENT : Inserted vide Taxation Laws (Amendment) Ordinance, 2019 w.e.f. 01-04-2020 (MAT Rate has been changed to 15% in place of 18.5%.) - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - t .....

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