Diff. btwn mat & amt

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kamal sawlani

kamal sawlani (Querist)
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07 December 2012 Whaterat is difference between minimum alternate tax & Alternate minimum tax?

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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07 December 2012 MAT is leviable on companies while AMT is leviable on Limited Liability Partnerships.

Also there is a difference in the way of calculation of both of them.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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07 December 2012 Further, MAT is computed on the book profit computed as per Explanation 1 to Section 115JB.

AMT is computed on the book profit computed as per the provisions of Section 28 to 43D (i.e. normal business income)

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