how the minimum alternative tax (MAT) is calculated, what is its relevance
1 Replies
P-A-W-A-N
(TAX - MANAGER AT GURGAON)
(541 Points)
Replied 19 December 2009
MAT (In case of Company only)
If Book Profit does not If Book Profit
Exceeds 1 crore exceeds I Crore
10% +2%+1% Domestic – 10%+10%+2%+1%
Rate 10.30% Rate 11.33%
(Domestic Co. / Foreign Co.) Foreign -10%+2.5%+2%+1% Rate 10.5575%
MAT will not exceeds if Books Profit increase 1 crore
Marginal Relief: - (Rs.10Lakh+Book Profit-1 Crore)+EC+SHEC
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