Question

Write some features of Minimum Alternative Tax introduced in the budget of 1996-97.​

Answer 1

Answer:

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Step-by-step explanation:

Minimum alternate tax. This tax on corporate profits was introduced in 1996-97 and has been modified since. If the tax payable by a company is less than 10% of its book profits, after availing of all eligible deductions , then 10% of book profits is the minimum tax payable.

Answer 2

Answer:

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