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Answer Posted / tushar
MAT stands for Minimum Alternative Tax charged u/s 115JB to
the companies under Income Tax Act. The rate for MAT is 18%.
MAT is calculated on book profit of company (Not on taxable
business Income)with certain change as given in aforesaid
section itself.
MAT can be payable in the case where there is no taxable
business income.
The company can also avail mat credit for next seven year
in the same case.
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