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CBDT relaxes norms for MAT on firms facing insolvency

News and Press Release - Dated:- 6-1-2018 - New Delhi, Jan 6 (PTI) The Income Tax Department today relaxed norms for levy of Minimum Alternate Tax (MAT) on companies facing corporate insolvency proceedings. As per Section 115JB of the Income Tax Act, .....

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lvency resolution process has been admitted by the adjudicating authority under...the IBC, the amount of total loss brought forward (including unabsorbed depreciation) shall be allowed to be reduced from the book profit for the purposes of levy of MA .....

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