Question

Write short notes on Minimum alternate tax

Answer 1

All companies having book profits under the Companies Act shall have to pay a minimum alternate tax at 18.5%. MAT is a way of making companies pay minimum amount of tax.

MAT is an attempt to reduce tax avoidance; it was introduced to contain the practices followed by certain companies to avoid the payment of income tax, even though they had the “ability to pay”.

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Answer 2

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