Transcription of Minimum Alternate Tax - MCA
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Minimum Alternate Tax - MCA
Minimum Alternate TaxCA. Sachin Kumar B PMay 30, 2016 Section 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 MATC ompanies 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
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