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Relief from liability of Minimum Alternate Tax (MAT)

Budget - Dated:- 5-2-2018 - E. FACILITATING INSOLVENCY RESOLUTION Section 115JB of the Act, provides for levy of a minimum alternate tax (MAT) on the book profits of a company. In computing the book profit , it provides, inter alia, for a deduction i .....

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rrier to rehabilitating companies seeking insolvency resolution. In view of the above, it is proposed to amend section 115JB to provide that the aggregate amount of unabsorbed depreciation and loss brought forward (excluding unabsorbed depreciation) .....

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application has been admitted would henceforth be entitled to reduce the loss brought forward (excluding unabsorbed depreciation) and unabsorbed depreciation for the purposes of computing book profit under section 115JB. This amendment will take effe .....

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