Minimum alternative tax
This query is : Resolved
23 February 2018
How to calculate book profit under MAT?
23 February 2018
Please see the writing in https://cleartax.in/s/tax-planning-under-mat
23 February 2018
Minimum Alternate Tax -, those companies which show zero or negligible income to avoid tax. Under MAT, such companies are made liable to pay to the government, by deeming a certain percentage of their book profit as taxable income,MAT is applied when the taxable income calculated as per the normal provisions in the IT Act is found to be less than 18.5% of the book profits.
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