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Categories  >>  Accounting  >>  Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions
 Taxation interview questions  Taxation Interview Questions
 Accounting General interview questions  Accounting General Interview Questions
 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
What is MAT ?
 Question Submitted By :: Sudhakar
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is MAT ?
Answer
# 1
It is Minimum Alternative tax. It is levied on Book profit
it ignores Accounting profit, Even if you have accounting
loss companies should pay MAT
 
Is This Answer Correct ?    14 Yes 1 No
Mohd Abdul Qader
 
  Re: What is MAT ?
Answer
# 2
MAT STANDS FOR MINIMUM ALTERNATIVE TAX.IT IS CHARGED ON 10%
OF BOOK PROFIT OR ACCOUNTING PROFIT WHICHEVER IS HIGHER.
THIS IS COVERED BY SECTION 115JB IT IS INTRODUCED AS MANY OF
THE COMPANIES LOWER THERE PROFIT BY TAKING ADVANTAGE OF LOOP
HOLES IN TAX AND THEREAFTER PAY EITHER NO TAX OR LOW
TAX.HENCE THIS SECTION IS INTRODUCED IN ORDER TO SAVE
REVENUE OF INCOME TAX.
 
Is This Answer Correct ?    9 Yes 2 No
Pawan Tiwari
 
 
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
What is the benfit of c form Infotech4
What is Rule 52A (Excises Duty)  1
i am a hosewife having a property,given on rent to a company which gives a rent of @10600 per month. the total come 126000. the company wants to deduct tds. as my income is less than 160000.i want to know the type of form required to produce to the company to avoid deduction of TDS.  2
On what amount of sale Excise Duty levied?  5
What is MAT ? Britannia2
WHAT IS THE PROCEDURE OF C-FORM ISSUES BY DEPARTMENT AND ITS VALADITY PROCEDURE  1
WE ARE A DEALER SUPPLIED GOODS IN 6 (2) TRANSACTION E-1 SALES TO MANUFACTURING CO. BUT MANUFACTURING CO. ASK TO US E-II FORM IT'S CORRECT OR WRONG?  1
What is the depriciation charged on animals such as elephants,dogs etc? KPMG1
Is VAT & CST should be charged at a time on one purchased item? please give more clearity on this issue?  4
Give details about TDS and its applicapable rates of latest year. CA1
how esic be calculated? On basic salary or earned salary? If i have gave advance salary to an employee in last month then how should i deduct the salary take an example if salary of an employee is Rs. 4750 and i deduct rs. 83 as esic contribution in current month if i've gave 83 in advance in last month then how much money exactly i give him. means esic cut on 4667 or 4750?  1
We purchase Electricals Cabel for Panel & Fitting for our company, we have issued Form "C" to above material purchase From OGS  3
 
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