What is MAT? and whom its applicable and what its rate?
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Answer / sri
MAT means Minimum alternative tax.The rate is now changed to
7.5% to 10% as on this budget.
| Is This Answer Correct ? | 60 Yes | 21 No |
Answer / sirikonda satish
Minimum Alternate Tax. It is applicable for only companyies
| Is This Answer Correct ? | 20 Yes | 2 No |
Answer / sonal chhabra
MAT:Minimum Alternate Tax. it's imposed only on the companies, and it's rate has been increased from 15% to 18%
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / goutam rath
MAT- Minimum Alternative Tax
Applicability- Registered Companies #
Rate for F.Y- 2012-13- 18.5%
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / devbrat sharma
MAT is applicable to Companies eg
Companies who were incurring good amount of profit (as per profit & loss account) and declaring dividends to their shareholders were not liable to pay any income tax as their tax payable as per income tax act was either zero or very less.
To make such companies pay tax on their income who enjoy tax exemptions and incentives under various sections of the income tax act, government imposed Minimum Alternate Tax. As per the MAT provision,companies are required to pay a fixed percentage of book profit (Profit as per profit & Loss account) i.e 18.5% +surcharge(if applicable)+cess as Minimum Alternate Tax.
| Is This Answer Correct ? | 0 Yes | 0 No |
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