Minimum alternative tax

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2014 IS MAT APPLICABLE FOR FOREIGN COMPANY OR NOT DESCRIBE IN DETAIL

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 August 2014 The Authority for Advance Ruling (“AAR”) has delivered an important ruling in the
case of The Timken Company holding that the provisions of section 115JB of the
Income-tax Act, 1961 (“the Act”) levying Minimum Alternate Tax (“MAT”) on the book
profit of a company would not apply to a foreign company not having any physical
presence in India.