Explain the objectives in levy of mat on companies in india
Answers
Answered by
0
Answer:
MAT is a short form of the word Minimum Alternate Tax, which is basically used to facilitate the "zero tax companies", which helps in giving good financial support to the company by providing minimum tax paying liabilities of the company. Most of the companies are applicable for MAT, also the foreign companies are also applicable for MAT.
Explanation:
MAT comes under the section of 115JB of the Income Tax Act, 1961. This act was brought into sight in the year 1997 and was executed from the year 1988 to 1999. This was once even withdrawn from the constitution, but again given back.
Similar questions