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On applicability of mat

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(Querist)
04 October 2016 If a company has profit from currency market is mat applicable on it
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ronit

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ronit (Expert)
07 October 2016 Yes, MAT will be applicable to the company in your description. MAT is not applicable to an assessee being an FII in the nature of capital gains arising on transactions on securities, however, they are liable to pay MAT on short-term capital gain arising on transaction in securities on which STT is not chargeable
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