Minimum Alternate Tax - MCA

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Minimum Alternate TaxCA. Sachin Kumar B PMay 30, 2016Section 115JB and relevant provisions of the Alternate TaxKosho moolo Dandah(Revenue is the root of administration)-Kautilya s Arthashatra Itwasonlyforthegoodofhissubjectsthatheco llectedtaxesfromthem,justasthesundrawsmo isturefromtheEarthtogiveitbackathousandf old -Kalidasain Raghuvansha praising King DilipaObjective of MATCompanies make huge moneyBut due to exemptions and deductions available , pay negligible or nil taxes to IT DeptTo bring them in tax net, MAT is applied Why MAT ?

When Liability to MAT u/s 115JB arise? Particulars Amt (Rs) Step - 1 Book Profit U/s 115JB XXXX Compute Tax at 18.5% of Book Profit [A] XXX Step - 2 Total Income as per Income tax provisions XXXX

  Income, Minimum, Alternate, Minimum alternate tax, Income as per income tax