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Answer Posted / manoharnsr
MAT means minimum alternate tax. MAT is that amount of tax
which has to be paid by the assesse up on the due date.
Usually advance tax is paid by assessees on certain dates
on quarterly basis and at times the advance tax paid may
exceed the tax payable for that period and the assessee
need not pay any tax for the income generated during that
quarter.
Since this will hinder the cash flows of teh government the
assesse is made to pay an alternate tax on the incomes of
that quarter using a method of calculation.
It may not possible to explain the full calculation but
this can give you an idea about MAT. you should read some
material to have a better advantage.
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pl send me SBI previous question papers for clerical post to my email id :jahnavi_devi@yahoo.com
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