Hello,
Wanted the following clarification.
As per recent amendments in Income Tax law, MAT is also applicable for SEZ companies now. However as per Sec 10AA, MAT is applicable on adjusted profits. For SEZ companies, adjusted profit for first 5 years will be exempted from Income Tax. Hence will MAT still be applicable for first 5 years for SEZ companies.
Kindly help to clarify.
Warmest regards,
Aroop Datta
CAclubindia
