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Levy of Minimum Alternate Tax

News and Press Release - Dated:- 12-3-2016 - Section 115JB of the Income-tax Act, 1961 (the Act) provides that in case of a company, if the tax payable on the total income as computed under the Act in respect of any previous year relevant to the asse .....

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all be eighteen and one-half per cent of its book profit. This is called Minimum Alternate Tax (MAT). The spirit behind levy of MAT is that every person participating in the economy must contribute to the exchequer. As a result of various exemptions, .....

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the corporate sector. MAT was introduced to address inequity in taxation of corporate tax payers and to promote inter-se equity among them. There were representations received from various stakeholders on the issue of levy of MAT. In the wake of repr .....

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