Follow Us :

MAT

Latest Articles


Decoding MAT: Unraveling Minimum Alternate Tax Landscape in India

Income Tax : Unveiling the intricacies of Minimum Alternate Tax (MAT) in India. Understand its purpose, computation, and recent developments. N...

February 5, 2024 708 Views 0 comment Print

Availability of Unutilised MAT credit of Amalgamating Company to Amalgamated Company

Income Tax : Explore allowance of unutilized MAT credit transfer in company amalgamation. Understand legal provisions, judicial precedents, and...

January 6, 2024 1029 Views 0 comment Print

Benefit to Non-Residents under Income Tax Act, 1961

Income Tax : Articles explain who is Non-Resident Individual, Partnership firm, Company for Income Tax Purpose, Taxable Income of Non Residents...

July 25, 2023 108348 Views 0 comment Print

Corporate Tax Rate Applicable for AY 2021-22, AY 2022-23 & AY 2023-24

Income Tax : Understand Corporate Tax Rates for AY 2021-22, AY 2022-23, AY 2023-24 & AY 2024-25. Learn about exemptions, conditions, and implic...

June 29, 2023 203205 Views 1 comment Print

MAT Credit Short Notes and Presentation in Financial Statements

Income Tax : MAT credit should be accounted in books as it satisfies definition of Asset as per Framework for preparation and presentation of F...

April 30, 2023 128817 Views 10 comments Print


Latest News


Cabinet approves Taxation Laws (Amendment) Bill, 2019

Income Tax : In order to attract fresh investment in manufacturing and provide boost to 'Make-in India' initiative of the Government, another p...

November 20, 2019 1302 Views 0 comment Print

Clarify 6 Issues in computation of book profit U/s. 115JB: ICAI to Govt

Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...

January 22, 2018 966 Views 0 comment Print

Clarify on MAT u/s 115JB: ICAI

Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...

January 20, 2018 8700 Views 1 comment Print

CBDT relaxes MAT provisions for companies facing Insolvency

Income Tax : Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for ...

January 8, 2018 1671 Views 0 comment Print

Relevant part of recommendations of MAT-Ind AS Committee’s Report

Income Tax : Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provision...

July 27, 2017 2151 Views 0 comment Print


Latest Judiciary


ITAT Grants MAT Credit Claim under Vivad se Vishwas Scheme

Income Tax : ITAT Mumbai allows United Spirits Limited to claim MAT credit under the VSV Scheme for the year in question, setting a precedent f...

March 9, 2024 132 Views 0 comment Print

No penalty for Adjustment in book profit due to disallowance of depreciation under MAT provisions

Income Tax : Jubilant Infrastructure Ltd Vs DCIT (ITAT Delhi) The disallowance of depreciation in quantum proceedings in A.Y.2016-17 has also r...

November 4, 2022 678 Views 0 comment Print

MAT Credit eligible on Surcharge, Education Cess & Additional Surcharges

Income Tax : MAT credit u/s. 115JA cannot be denied on Surcharge, education cess and additional surcharge - secondary and higher education cess...

August 16, 2022 2823 Views 0 comment Print

Addition of CSR Expenses to book profit disclosed in audited accounts not justified

Income Tax : Addition of CSR expenses to book profit under section 115JB was not justified as AO or assessee, none could tinker with book profi...

August 10, 2022 1863 Views 0 comment Print

Provisions of section 115JB not applicable to banking company

Income Tax : ITAT hold that the provisions of sec.115JB are not applicable to a banking company i.e. the assessee herein also. Having held that...

January 18, 2022 1839 Views 0 comment Print


Latest Notifications


CBDT clarification on MAT Credit on exercise of section 115BAA option

Income Tax : Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option ...

October 2, 2019 33168 Views 0 comment Print

CBDT notifies revised Form no. 29B for MAT audit with Annexures

Income Tax : Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only...

August 18, 2017 124800 Views 5 comments Print

FAQs on computation of book profit to levy MAT for Ind AS companies

Income Tax : Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB...

July 25, 2017 12141 Views 0 comment Print

Issues on implementation of MAT provisions for Ind AS companies

Income Tax : CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounti...

July 25, 2017 1878 Views 0 comment Print

Reg. Penalty in cases where despite addition tax payable under MAT Provisions is higher than under Normal Provisions

Income Tax : CIRCULAR NO. 25/2015 Penalty u/s 271(1)(c) wherein additions/disallowances made under normal provisions of the Income Tax Act, 196...

December 31, 2015 3160 Views 0 comment Print


Latest Posts in MAT

ITAT Grants MAT Credit Claim under Vivad se Vishwas Scheme

March 9, 2024 132 Views 0 comment Print

ITAT Mumbai allows United Spirits Limited to claim MAT credit under the VSV Scheme for the year in question, setting a precedent for similar cases.

Decoding MAT: Unraveling Minimum Alternate Tax Landscape in India

February 5, 2024 708 Views 0 comment Print

Unveiling the intricacies of Minimum Alternate Tax (MAT) in India. Understand its purpose, computation, and recent developments. Navigate the tax landscape with clarity.

Availability of Unutilised MAT credit of Amalgamating Company to Amalgamated Company

January 6, 2024 1029 Views 0 comment Print

Explore allowance of unutilized MAT credit transfer in company amalgamation. Understand legal provisions, judicial precedents, and implications for amalgamated company.

Benefit to Non-Residents under Income Tax Act, 1961

July 25, 2023 108348 Views 0 comment Print

Articles explain who is Non-Resident Individual, Partnership firm, Company for Income Tax Purpose, Taxable Income of Non Residents, Tax on Indirect transfer of a capital asset situated in India by Non-Residents, activities not to constitute business connection in India, Exemption from applicability of Section 206AA to non-residents

Corporate Tax Rate Applicable for AY 2021-22, AY 2022-23 & AY 2023-24

June 29, 2023 203205 Views 1 comment Print

Understand Corporate Tax Rates for AY 2021-22, AY 2022-23, AY 2023-24 & AY 2024-25. Learn about exemptions, conditions, and implications for companies. Stay informed for effective tax planning.

MAT Credit Short Notes and Presentation in Financial Statements

April 30, 2023 128817 Views 10 comments Print

MAT credit should be accounted in books as it satisfies definition of Asset as per Framework for preparation and presentation of Financial Statements

Pre-Budget 2023 Thoughts- Expectations of Startup Companies

January 23, 2023 1371 Views 0 comment Print

A company opting for special rate taxation under section 115BAA and 115BAB of the Act are exempt from paying MAT. Further, a company, being a unit of an International Financial Services Centre (IFSC) and deriving its income solely in convertible foreign exchange, will be required to pay MAT at 9% (plus cess and surcharge as applicable

No penalty for Adjustment in book profit due to disallowance of depreciation under MAT provisions

November 4, 2022 678 Views 0 comment Print

Jubilant Infrastructure Ltd Vs DCIT (ITAT Delhi) The disallowance of depreciation in quantum proceedings in A.Y.2016-17 has also resulted in corresponding enhancement of deduction under section 80IAB by the equal amount. The AO has also allowed the enhanced deduction in the quantum and, therefore, no prejudice was caused to the revenue by such claim. It […]

MAT Credit eligible on Surcharge, Education Cess & Additional Surcharges

August 16, 2022 2823 Views 0 comment Print

MAT credit u/s. 115JA cannot be denied on Surcharge, education cess and additional surcharge – secondary and higher education cess

Addition of CSR Expenses to book profit disclosed in audited accounts not justified

August 10, 2022 1863 Views 0 comment Print

Addition of CSR expenses to book profit under section 115JB was not justified as AO or assessee, none could tinker with book profit disclosed in audited account and once the accounts had been prepared in accordance with standards in this regard, this tinkering by AO had no sanction of law.