Follow Us :

Minimum Alternate Tax

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 762 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 130929 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 96779 Views 5 comments Print

Importance of Minimum Alternate Tax In Tackling Tax Avoidance

Company Law : MAT or minimum alternative tax refers to a tax paid to by a company in advance. We should note that companies must pay tax accordi...

February 28, 2022 2427 Views 0 comment Print

MAT (Minimum Alternative Tax Section 115JB)

Income Tax : Minimum Alternative Tax (Section 115JB) MAT Stands for Minimum Alternative Tax, he objective of introduction of MAT is to bring in...

January 30, 2022 7986 Views 0 comment 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 1305 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 8733 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

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 828 Views 0 comment Print


Latest Judiciary


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 1302 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 705 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 1590 Views 0 comment Print

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

Income Tax : PCIT-4 Vs Krishi Rasayan Exports Pvt. Ltd (Calcutta High Court) Whether the interest subsidy and excise refund would be treated as...

September 14, 2022 390 Views 0 comment Print

Sales tax & excise duty subsidy is capital receipts & not taxable

Income Tax : ACIT Vs Genus Electrotech Limited (ITAT Delhi) Held that sales tax incentive subsidy and excise duty incentive are in the nature o...

August 21, 2022 2118 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 33315 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 124830 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 12204 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 1887 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 1620 Views 0 comment Print


Latest Posts in Minimum Alternate Tax

Decoding MAT: Unraveling Minimum Alternate Tax Landscape in India

February 5, 2024 762 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 1302 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 130929 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 705 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 1590 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 390 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 […]

Sales tax & excise duty subsidy is capital receipts & not taxable

August 21, 2022 2118 Views 0 comment Print

ACIT Vs Genus Electrotech Limited (ITAT Delhi) Held that sales tax incentive subsidy and excise duty incentive are in the nature of capital receipts and thus not chargeable to tax as regular income as well as income u/s 115JB for computation of book profit. Facts- In the order u/s 154, AO noted that assessee had […]

Section 14A disallowance not considerable in Section 115JB book profit computation

August 18, 2022 2493 Views 0 comment Print

ITAT held that no disallowance of expenses can be made in respect of exempt income by invoking the provisions of s. 14A of the Act r/w Rule 8D of the Rules while computing book profit u/s. 115JB of the Act.

MAT Credit eligible on Surcharge, Education Cess & Additional Surcharges

August 16, 2022 2868 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 disallowed prior period expenses not permitted in book profit computation

August 5, 2022 3042 Views 0 comment Print

Prior period expenses charged to profit and loss account cannot be deducted from profit of year for computing book profit under Section 115JB

Search Post by Date
May 2024
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031