Answer Posted / prasoon mishra
MAT is basically used in taxation for "Minimum Alternative Tax" (U/S 115JB)In the new Assessment Year 2010-11.MAT is the comparison of tax amount which We had paid in the Previous year According to income tax act and MAT.if we had paid some amount extra then it will be credit for us which we can carry forward for for next 7 years.MAT rate implies 10% Tax on Book Value, 10% Surcharge & 3% Education cess (tax plus surcharge).
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