Sponsored
    Follow Us:

Minimum Alternate Tax

Latest Articles


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 921 Views 0 comment Print

Redundancy of Minimum Alternate Tax: A Missed Step towards Simplification

Income Tax : Redundancy of Minimum Alternate Tax (MAT) in India's evolving tax landscape, focusing on its history, challenges & potential simpl...

February 16, 2025 639 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 1206 Views 0 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 160683 Views 10 comments Print

Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT)

Income Tax : MAT stands for Minimum Alternate Tax and AMT stands for Alternate Minimum Tax. Initially the concept of MAT was introduced for com...

June 3, 2022 103898 Views 5 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 1353 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 9069 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 1749 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 2253 Views 0 comment Print

ASSOCHAM advocates MAT exemption for sick companies under debt restructuring

Income Tax : Apex Industry body ASSOCHAM has advocated continuation of the exemption from MAT (Minimum Alternative Tax) by the insertion of a s...

April 27, 2017 897 Views 0 comment Print


Latest Judiciary


Canara Bank Wins ITAT Appeal: Section 115JB Not Applicable

Income Tax : ITAT Bangalore rules Section 115JB (MAT) not applicable to Canara Bank (erstwhile Syndicate Bank), citing prior judicial precedent...

April 23, 2025 2520 Views 0 comment Print

Section 115J not authorizes AO to go beyond audited financial statement: SC

Income Tax : The Supreme Court examined tax issues in Apollo Tyres Ltd. vs. CIT, including the role of assessing officers under Section 115-J a...

February 18, 2025 471 Views 0 comment Print

Loss on sale of investment not deductible from book profits u/s 115JB

Income Tax : ITAT Chennai held that as capital profit are to be excluded while computing book profit u/s 115JB, similarly, the adjustment of lo...

August 24, 2023 1533 Views 0 comment Print

Penalty u/s 271(1)(c) not leviable as tax was payable on book profits u/s 115JB

Income Tax : ITAT Delhi held that penalty u/s 271(1)(c) of the Income Tax Act alleging inaccurate particulars not leviable as assessee was subj...

April 14, 2023 822 Views 0 comment Print

Advance from customers cannot be added in computation of Book Profit

Income Tax : ITAT held that if advances received by the assessee from customers on which TDS Credits has been claimed, has been offered as inco...

January 6, 2023 1731 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 34770 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 125286 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 12942 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 1986 Views 0 comment Print

Modification in Circular related to Tax Effect for Appeal Filing

Income Tax : References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going into t...

July 14, 2017 1755 Views 0 comment Print


Latest Posts in Minimum Alternate Tax

Canara Bank Wins ITAT Appeal: Section 115JB Not Applicable

April 23, 2025 2520 Views 0 comment Print

ITAT Bangalore rules Section 115JB (MAT) not applicable to Canara Bank (erstwhile Syndicate Bank), citing prior judicial precedents and its status as a nationalized bank.

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

April 5, 2025 921 Views 0 comment Print

Understand Form 29B and 29C under Sections 115JB & 115JC for MAT and AMT audits. Know applicability, filing, and compliance requirements for companies and firms.

Section 115J not authorizes AO to go beyond audited financial statement: SC

February 18, 2025 471 Views 0 comment Print

The Supreme Court examined tax issues in Apollo Tyres Ltd. vs. CIT, including the role of assessing officers under Section 115-J and eligibility of UTI income under Section 32AB.

Redundancy of Minimum Alternate Tax: A Missed Step towards Simplification

February 16, 2025 639 Views 0 comment Print

Redundancy of Minimum Alternate Tax (MAT) in India’s evolving tax landscape, focusing on its history, challenges & potential simplification benefits.

Decoding MAT: Unraveling Minimum Alternate Tax Landscape in India

February 5, 2024 1206 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.

Loss on sale of investment not deductible from book profits u/s 115JB

August 24, 2023 1533 Views 0 comment Print

ITAT Chennai held that as capital profit are to be excluded while computing book profit u/s 115JB, similarly, the adjustment of loss could also not be allowed u/s 115JB. Hence, loss on sale of investment could not be reduced from Book Profits u/s 115JB of the Income Tax Act.

MAT Credit Short Notes and Presentation in Financial Statements

April 30, 2023 160683 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

Penalty u/s 271(1)(c) not leviable as tax was payable on book profits u/s 115JB

April 14, 2023 822 Views 0 comment Print

ITAT Delhi held that penalty u/s 271(1)(c) of the Income Tax Act alleging inaccurate particulars not leviable as assessee was subjected to tax on book profits u/s 115JB.

Advance from customers cannot be added in computation of Book Profit

January 6, 2023 1731 Views 0 comment Print

ITAT held that if advances received by the assessee from customers on which TDS Credits has been claimed, has been offered as income of subsequent financial years, then the same needs to be recognized as income as and when such income accrues to the assessee.

Receipt not in character of Income to not form part of book profit under Section 115JB

September 14, 2022 504 Views 0 comment Print

PCIT-4 Vs Krishi Rasayan Exports Pvt. Ltd (Calcutta High Court) Whether the interest subsidy and excise refund would be treated as capital receipt or revenue receipt for the purpose of computation of book profit under the provision of Section 115JB of the Income-Tax Act, 1961 ? Identical issue was also considered by this Court in […]

Sponsored
Sponsored
Search Post by Date
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031