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  #1  
3rd June 2015, 01:49 PM
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MAT Surcharge Applicability

What is the Surcharge for Minimum Alternative Tax (MAT)? I want to know all information about this, because may be I have to pay this Tax from next year. Tell me that in which case person have to pay Minimum Alternative Tax (MAT)? in what percentages they have to pay Surcharge?
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  #2  
7th August 2018, 10:15 AM
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Re: MAT Surcharge Applicability

Hii sir, Will you Please tell Me Applicability And Non Applicability of MAT Under the Income Tax Department ?\
  #3  
7th August 2018, 10:18 AM
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Join Date: Aug 2012
Re: MAT Surcharge Applicability

MAT stands for Minimum Alternate Tax MAT was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT

Objective of levying MAT

At times it may happen that a taxpayer, being a company, may have generated income during theyear, but by taking the advantage of various provisions of Income-tax Law (like exemptions, deductions, depreciation, etc.), it may have reduced its tax liability or may not have paid any taxat all.

Applicability and non-applicability of MAT

As per section 115JB, every taxpayer being a company is liable to pay MAT, if the Incometax(including
surcharge and cess) payable on the total income, computed as per the provisions of
the Income-tax Act in respect of any year is less than 18.50% of its book-profit + surcharge (SC)
+ health & education cess.
From the above it can be observed that the provisions of MAT are applicable to every company
whether public or private and whether Indian or foreign. However, as per section 115JB(5A)
MAT shall not apply to any income accruing or arising to a company from life insurance
business referred to in section 115B. Further, as per provisions of Section 115V-O the provisions
of MAT will not apply to a shipping income liable to tonnage taxation, i.e., tonnage taxation
scheme as provided in section 115V to 115VZC

Applicability And Non Applicability of MAT Under the Income Tax Department






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