EASYOFFICE
EASYOFFICE
EASYOFFICE

What is MAT?What is the treatment in accounts?

This query is : Resolved 

18 December 2009 What is MAT?What is its accounting treatment?Explain with an example?

18 December 2009 MAT is Mandatory Alternative Tax levied on Company Assessee only.

It means that if a company has book profits but; due to various allowances and deductions; the tax liability becomes NIL then at least 30% of such book profits will be treated as taxable profits and accordingly Income Tax will be payable by the company.

Refer Section 115J of the Income Tax Act.

CA Rakhecha,Surat







You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries