Section 115 jb
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2012
what is section 115 jb.
thanx in advance.
thanx in advance.
27 December 2012
This section relates with minimum alternate tax ie MAT. It is applicable on all the companies wether foreign or indian. Applicable only on companies and not on other assessee. Companies have to pay higher of the tax calculated in the following manner--
# regular income tax
Or
# tax@18.5% on adjusted income.
# regular income tax
Or
# tax@18.5% on adjusted income.
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