Income Tax : The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary ...
Income Tax : The framework clarifies that companies must pay MAT where normal tax liability is lower than 15% of book profit. It establishes MA...
Income Tax : Explains mandatory filing of Form 66 for companies liable to MAT and the requirement of CA certification. Highlights consequences ...
Income Tax : Explains how taxpayers can recompute book profits and reduce MAT liability using Form 53 for APA and secondary adjustments....
Income Tax : The amendment removes MAT for additional specified non-resident businesses taxed on a presumptive basis. This ensures uniform tax ...
Corporate Law : The Budget exempts non-residents paying tax on a presumptive basis from MAT while offering targeted income tax holidays. These mea...
Income Tax : In order to attract fresh investment in manufacturing and provide boost to 'Make-in India' initiative of the Government, another p...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for ...
Income Tax : Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provision...
Income Tax : ITAT Delhi held that MAT provisions under Section 115JB cannot apply once a company validly opts for concessional taxation under S...
Income Tax : The Tribunal set aside additions to book profit after ruling that MAT provisions do not apply to banks established under a special...
Income Tax : The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income acc...
Income Tax : The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tri...
Income Tax : The Court held that Explanation 1(f) to Section 115JB does not expressly permit addition of Section 14A disallowance, leading to d...
Company Law : ROC Kanpur's order dated 10/10/2025 imposes a ₹175,450 penalty on Haiderpur Fertilizer Producer Company and its five directors f...
Income Tax : Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option ...
Income Tax : Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only...
Income Tax : Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB...
Income Tax : CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounti...
ITAT Delhi held that MAT provisions under Section 115JB cannot apply once a company validly opts for concessional taxation under Section 115BAA. The Tribunal also relied on consistency as the department had accepted the option in earlier years.
The Tribunal set aside additions to book profit after ruling that MAT provisions do not apply to banks established under a special statute. It emphasized that such entities are not companies under the Companies Act.
The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary additions by tax authorities. Key takeaway: MAT computation is strictly rule-based.
The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income accrual and PE eliminates TDS liability.
The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tribunal findings and rejected Revenue’s challenge across multiple years.
The framework clarifies that companies must pay MAT where normal tax liability is lower than 15% of book profit. It establishes MAT as a minimum tax safeguard, ensuring consistent tax contributions regardless of reported income.
Explains mandatory filing of Form 66 for companies liable to MAT and the requirement of CA certification. Highlights consequences of non-filing and defective returns.
Explains how taxpayers can recompute book profits and reduce MAT liability using Form 53 for APA and secondary adjustments.
The Court held that Explanation 1(f) to Section 115JB does not expressly permit addition of Section 14A disallowance, leading to dismissal of the Revenue s appeal.
The amendment removes MAT for additional specified non-resident businesses taxed on a presumptive basis. This ensures uniform tax treatment across all eligible activities and avoids unintended MAT exposure.
