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Minimum alternate tax

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(Querist)
05 January 2009 Sir can you please explain me the meaning of minimum alternate tax?
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Jitender

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Jitender (Expert)
05 January 2009 mat is the amount of tax which is beared by the comapany if its tax lia under normal provisions is less than 10% of book profit.
that means co has to pay 10% tax on book profits. these kind of situations generally arises in case of assessee having losses to set off.
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CHEZHIYAN

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CHEZHIYAN (Expert)
06 January 2009 Tax Calculation to be made as per income tax act and also MAT Whichever is higher Co.has to pay
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