Minimum Alternate Tax notification

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

Circular No. 29/2019-Income Tax (02/10/2019)

Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option under section 115BAA: (a) Allowability of brought forward loss on account of additional depreciation; and (b) Allowability of brought forward MAT credit....

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

Notification No. 80/2017-Income Tax [G.S.R. 1028(E)] (18/08/2017)

Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only where the financial statements of the company are drawn up in compliance with the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015 for the previous y...

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

Circular Number 24/2017-Income Tax (25/07/2017)

Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies....

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Issues on implementation of MAT provisions for Ind AS companies

NA (25/07/2017)

CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounting Standards (Ind AS) compliant companies....

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Modification in Circular related to Tax Effect for Appeal Filing

F.No.279/Misc./M-142/2007-ITJ(Pt.) (14/07/2017)

References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going into the merits of the case by relying on the definition of `tax effect' as defined in Circular No. 21/2015, which prescribes the monetary limit for filing appeals before various appellate authorities....

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

Circular No. 25/2015 - Income Tax (31/12/2015)

CIRCULAR NO. 25/2015 Penalty u/s 271(1)(c) wherein additions/disallowances made under normal provisions of the Income Tax Act, 1961 but tax levied under MAT provisions u/s 115JB/115JC, for cases prior to A.Y. 2016-17-reg.- Section 115JB of the Act is a special provision for levy of Minimum Alternate Tax on Companies, inserted by Finance A...

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CBDT advises not to Pursue Recovery of Outstanding Demands in MAT cases of FIIS/FPIS

Instruction No. 9/2015 (02/09/2015)

Instruction No. 9/2015 Following the Acceptance of the Recommendation of the Justice A.P.Shah Committee by the Government, CBDT Advises its Field Authorities to keep in Abeyance, for the Time being, the Pending Assessment Proceedings in Cases of FIIS/FPIS Involving the Applicability of Minimum Alternate Tax (MAT) on FIIS/FPIS for the Peri...

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Committee to Examine Matter Relating to Levy of MAT on FIIS

F.No.1 33/27/201 5-T PL (20/05/2015)

The Union Finance Minister Shri Arun Jaitley, while responding to the discussions on the Finance Bill in Rajya Sabha on 7th May, 2015, had announced the constitution of a Committee headed by Justice A.P. Shah to look into the issue of Minimum Alternate Tax (MAT) on...

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CBDT directives on MAT on foreign companies & FIIs

FTS No. 96370/2015 (11/05/2015)

Finance Minister has, while responding to the discussions on the Finance Bill in Rajya Sabha on 7th May, 2015, announced constitution of a Committee headed by Justice A.P. Shah to look into, inter alia, the issue of MAT on FIIs. The Committee is expected to give its report on this issue expeditiously....

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