Question
A domestic company reports ₹2 crore as book profit. As
per section 115JB, if its normal tax liability is ₹12 lakh, what is the Minimum Alternate Tax (MAT) payable?Solution
MAT = 15% of book profit + surcharge + cess. Basic = 15% of ₹2 crore = ₹30 lakh. Including cess/surcharge = approx. ₹15.6 lakh minimum payable. If normal tax < MAT, then MAT applies.
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