Sponsored
    Follow Us:

MAT

Latest Articles


Story Behind MAT: Why it Was Born, Who Created it & Journey

Income Tax : Concept of Minimum Alternate Tax (MAT) was formally introduced in Section 115JA of the Income Tax Act. It evolved over time, becom...

June 4, 2025 981 Views 0 comment Print

Form 29B & 29C: Audit Reports for Computing MAT & AMT under Income Tax Act

Income Tax : Understand Form 29B and 29C under Sections 115JB & 115JC for MAT and AMT audits. Know applicability, filing, and compliance requir...

April 5, 2025 1110 Views 0 comment Print

Corporate Tax Rate Applicable for AY 2021-22, 2022-23, 2023-24, 2024-25 & 2025-26

Income Tax : Detailed overview of corporate tax rates, surcharges, and MAT for AY 2021-22 to AY 2025-26, applicable for various domestic and ma...

January 22, 2025 237654 Views 1 comment Print

Benefit to Non-Residents under Income Tax Act, 1961

Income Tax : Income-tax Act contains special provision for taxability of a non-resident person, including a foreign company. A few benefits are...

September 5, 2024 110781 Views 0 comment Print

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 1224 Views 0 comment Print


Latest News


FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3597 Views 0 comment Print

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 1353 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 1164 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 9099 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 1761 Views 0 comment Print


Latest Judiciary


If Applicability of Section 115JB is Debatable, then Rectification Beyond Section 154 Scope

Income Tax : ITAT Ahmedabad held that issue of applicability of section 115JB to National Dairy Development Board is debatable and not a mistak...

June 12, 2025 63 Views 0 comment Print

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 852 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 918 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 3312 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 2658 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 34929 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 125301 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 12969 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 1995 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 3433 Views 0 comment Print


Section 115BAA: Whether to continue or forego MAT/AMT Credit?

January 3, 2021 7446 Views 2 comments Print

Section 115BAA: Whether to continue or forego MAT/AMT Credit? Section 115BAA states that domestic companies have the option to pay corporate tax at the reduce rate of 22% from FY 2019-20 onwards. Isn’t it a great benefit for the domestic companies to save around 3% on their tax expenses? But wait this benefit comes with […]

Deferred tax Considered under MAT as per 115JB?

October 16, 2020 39767 Views 0 comment Print

The treatment of deferred tax charge in determining the tax liability under the special provisions of Section 115JB of the Income-Tax Act is one such case. Section 115JB levies minimum alternate tax (MAT) at 10% of book profits (plus surcharge and cess thereon) if such tax is higher than the tax payable under the normal provisions of the Act. Book profits, for this purpose, needs to be calculated by making certain specified adjustments to the net profit as shown in the profit & loss account prepared in accordance with the Companies Act and after taking into account accounting policies and accounting standards adopted for preparing such accounts.

New Corporate Taxation regime (Section 115BAA) & MAT

August 14, 2020 38667 Views 0 comment Print

Section 115BAA was introduced by way of a mid year budget in FY 2019-20 and is applicable to certain domestic companies from 1st April 2020. The new section gives a one-time option to Domestic Companies to pay tax on their taxable income at 22% (instead of 25%/30%) and additional surcharge of 10% irrespective of taxable […]

Minimum Alternate Tax (MAT) for Ind AS 115 complaint companies

July 23, 2020 2592 Views 0 comment Print

Understanding Minimum Alternate Tax (MAT) for Ind AS 115 complaint companies. Learn how to compute book profit and navigate the provisions of section 115JB.

Minimum Alternate Tax (MAT) | Section 115JB | Income Tax Act 1961

June 28, 2020 846089 Views 27 comments Print

Law makers observed that there is many companies which are disclosing massive profit in the accounts as laid in the Annual General Meeting (AGM) before the shareholder but at the same time these companies also showing profit nil or bit above nil for the income tax purpose.

No Section 234B Interest for Advance Tax Shortfall due to Retrospective Amendment

June 28, 2020 2154 Views 0 comment Print

Whether the interest u/s 234B for less payment of advance tax will be levied on account of additions made to total income, consequent to retrospective amendment?

Book profit | Section 10A deduction | HC refers matter back to ITAT

June 4, 2020 1047 Views 0 comment Print

The tribunal has held that net profits have to be determined as per the provisions of the companies Act and thereafter, the adjustments have to be made. It has further been held that the assessee cannot adjust the books of profit except as provided under the companies Act.

While computing income U/s. 115J AO cannot tinker book profit

May 5, 2020 1215 Views 0 comment Print

Assessing Officer tinkered the book profit by adding the additional revenue on account of subsequent realization of export, while computing the book profit u/s 115JB of the Act. The assessee has revised the return of income by including the additional revenue in its total income.

HC imposes Cost of Rs. 5 Lakh on Assessee for Misleading the Court

March 13, 2020 1293 Views 0 comment Print

Indus Towers Ltd. Vs ACIT (Delhi High Court) The issue raised is that of gross suppression and misstatement by the petitioner, which led to a false projection of the outstanding liability/ refund due from/ to the petitioner.  It is pointed out by Mr. Raghvendra Singh that the petitioner was required to file a consolidated return […]

Corporate Tax Rate Applicable for AY 2019-2020 & AY 2020-2021

December 28, 2019 47583 Views 1 comment Print

Income tax rates are decided and governed by Income Tax Act 1961 and are subject to change every year. This article will cover the income tax rates applicable to Domestic Companies for the Assessment Year 2019-2020 and Assessment Year 2020-2021 (As per the Taxation Laws (Amendment) Act, 2019) respectively, also cover Minimum Alternate Tax (MAT) […]

Sponsored
Sponsored
Search Post by Date
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30