Answer Posted / saifuddin lokhandwala
MAT means Minimum Alternative Tax charged u/s 115JB to the
companies. It was first intoduced by V.P. Singh when he was
the FM of our country. He realised that companies declaring
huge dividend and paying lessor tax. To avoid such things
he intoduced MAT which is charged @ 10% on the book profit
declared by the company.
| Is This Answer Correct ? | 20 Yes | 4 No |
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