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What is MAT ?

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What is MAT ?..

Answer / mohd abdul qader

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 ?    16 Yes 1 No

What is MAT ?..

Answer / pawan tiwari

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 ?    10 Yes 2 No

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