Minimum alteration tax
This query is : Resolved
19 November 2011
If our co Profit as per P & l is 100000/- & profit as per MAT is Rs.150000/- then on which amout tax will be paid & pecrcentage or on both the amount.
19 November 2011
You have to pay the higher of the two: Read Section 115JB. the reason why MAT got into picture was lot of companies who had tax exemptions were paying very little tax or no tax at all. That is why MAT provisions were brought in.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Legal heir raised refund , but refund issued to the closed account of deceased.
- TDS NUMBER SURRENDER
- Whether still royalty
- Offsetting interest income against derivative trading losses
- SEC 54 OF IT ACT
- RCM - commercial rent paid to URP under GST
- Gratuity Withdrawls
- DEMAND ORDER
- Amendment of September 2021 Invoice
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
