Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
Income Tax : Section 115BAA offers eligible domestic companies a concessional tax structure with a fixed effective rate. The trade-off is the l...
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 ...
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 : The Calcutta High Court held that Section 115JB was not applicable to Assessment Year 2011-12 as it became effective only from Ass...
Income Tax : Tribunal held that the estimated disallowance under Section 14A should be restricted and should not form part of book profits, fol...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
Income Tax : ITAT Mumbai held that disallowance computed under Section 14A cannot be directly added while computing book profits under Section ...
Income Tax : ITAT Delhi held that MAT provisions under Section 115JB cannot apply once a company validly opts for concessional taxation under S...
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...
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.
The Tribunal held that revision under section 263 was invalid where the MAT adjustment arose mechanically from a transition amount already examined in an earlier year, and no fresh error was shown.
MAT will become a final tax in the old regime at 14%, replacing the earlier credit-based mechanism. The change simplifies compliance while nudging companies toward the new tax regime.
The Budget exempts non-residents paying tax on a presumptive basis from MAT while offering targeted income tax holidays. These measures aim to improve tax certainty and attract foreign investment.
The Tribunal held that MAT relief under section 115JB cannot continue once a company’s net worth becomes positive, as the scheme required only consideration—not automatic grant—of exemption.
