WHAT IS MAT
Answers were Sorted based on User's Feedback
Answer / mubin saiyed
MAT is minimum alternative tax section 115JA was replaced by
section 115JB for assessment years 2001-02 onwards. As per
this section, your normal tax payable is to be compared with
7.5% of your book profits and you are required to pay the
higher of the two. From assessment year 2007-2008 onwards
your normal tax payable will be compared with 10% of book
profits are your required to pay the higher of the two.
Credit for MAT paid can be carried forward under section
115JAA for 5 years.
Is This Answer Correct ? | 56 Yes | 14 No |
Answer / ca.manish gupta
Now mat credit is avilable for 7 years .
MAT is minimum alternative tax incase compnay have no tax
liability as per incometax act ,so compnay pay mat @10%.
some of items addedback & deducted for calculating mat .
Is This Answer Correct ? | 36 Yes | 8 No |
Answer / ravi kant
from tax point of view mat is stand for minimum
alternative tax
Is This Answer Correct ? | 23 Yes | 2 No |
Answer / rajinder kumar
MAT = MINIMUM ALTERNATE TAX WHICH WILL BE COMPARED WITH
NORMAL BOOK PROFIT OF 10% & REQUIRED TO PAY THE HIGHER OF
TWO.
Is This Answer Correct ? | 11 Yes | 2 No |
Answer / anusha
MAT.....according to taxation point of view,,,its a minimum
alternate tax which has been increased frm 15percent to
18percent frm feb,2010 onwards....as the new budget of 2010
has declared....!!!
Is This Answer Correct ? | 6 Yes | 2 No |
Answer / smriti pattnaik
minimum alternative tax
18% for 2010-11
Is This Answer Correct ? | 3 Yes | 1 No |
Definitions of paid up capital ,authorized capital ,issued capital ,share capital
Which form we use for depositing Service Tax
TDS rate for Building Maintenance ????
Wat are the heads in Taxation?
What is the TDS . and how can we identify this is TDS Deductable or not.
What is Inter Company Reconciliation?
13 Answers Aditya Birla, Ernst Young, Infosys, TCS, Thomson Reuters,
TDS RATE ON SALARY FOR THE A.Y 2010-2011?
I need c-form. But our business is auto-cad training center. I want purchase some computer. So, how to received c-form.
Form No.27A, I think it is a TDS oriented Form. But for what purpose and why this Form is use?
what is the difference between vat return and return for remittance on value added tax.
How to reimburse TDS(Tax Deducted at Source)? I am getting monthly stipend of RS11,500. But still my employer deducting 1300 pm as TDS. They said they will issue form 16A to reimbruss. Please tell me the procedure to get my money back.
I am running a small business under labour charges. I purchase raw material paying tax. I do not have a tin no. In that case kindly advise How to file IT returns of my company and whether I can claim tax refund.