03 October 2010
Are the provisions of Minimum Alternate tax applicable on the companies, which are eligible for deduction under section 80IA, 80IB..etc..?
04 October 2010
Yes, even in respect of cases covered by 80IA or 80IB, Minimum Alternate Tax is applicable. Further the deduction which was hitherto extended for such computation of MAT, is now withdrawn. In other words companies where exemption under section 80IA and 80IB are applicable, they have to pay MAT and for this purpose the deduction under section 80IA and 80IB will not be made. This is effective from the assessment year 2008-09 onwards.
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