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 |
Post New Answer View All Answers
How tax deduction at source is deducted
Define Amortization & Impairment?
we have sale material to party and freight paid by us. This freight charged in sale invoice than what is the entry of service tax in this case.
How can the management breakup the salary of employee(if salary Rs.10000/-) which % they calculate the Basic,T.A,D.A,H.RA.and e.t.c.
If a person purchased goods by paying vat but while selling no vat has been collected and if he is registering his firm under vat need to pay vat after registration?
If A manpower supplier bills to a acompany for rs.100000 for pure labour supply what entry will be done in terms of reverse charges.
Pls.tell me some website name who display practical question & answers of accounting work. like tds, service tax entry and some more. also provide important knowledge of all taxes.
I am working as account in one of the logistics company for one year. I would like to know about service tax and how can I post necessary entries
Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?
we charge service tax in our Invoice.we pay it in time. At the end of the year other party gives his deduction as certificate. what to do with it ? how to submit again to tax authorities?
i want know central excise duty codes with cess?
What are the various forms used for VAT?
how to adjustent the accounts part of the company and how to calculate vat and gst .kindly answer me sir. my e-mail id is:- dipak92.dip@gmail.com
what is the detail procedure to filling ITR-I,ITR-II AND ITR- 1V V1 IE e-filling procedure
how to caluclate the mumbai tax with example? what is mean by credit and debit ?