Under which circumstances company needs to pay MAT(Minimum Alternate Tax) under sec.115JB. Will the provisions of sec.115JB applicable to both public companies as well as private companies?
2 Replies
Rahul Chobdar
(Chartered Accountant (Financial Management))
(561 Points)
Replied 04 August 2009
Hi
MAT is payable by all companies unless covered under some exemption or deduction under IT Act.
MAT will be compared with Tax payable as per normal IT provisions, whichever is higher. Though MAT credit can be claimed afterwards when Tax is payable as per normal provisions.
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CA.Shaleen Srivastava
(CA , CWA*, Bcom(H))
(2004 Points)
Replied 04 August 2009
Mat is payable in all cases
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