📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Company turnover ₹20Cr, taxable income ₹2Cr. MAT

      liability? (MAT rate 15%)
      A ₹30L Correct Answer Incorrect Answer
      B ₹45L Correct Answer Incorrect Answer
      C ₹60L Correct Answer Incorrect Answer
      D ₹75L Correct Answer Incorrect Answer

      Solution

      MAT = 15% of book profits. Assuming book profits = taxable income, MAT = 15% of ₹2Cr = ₹30L. Normal tax @25% = ₹50L. Higher of normal tax or MAT applies.

      Practice Next
      More Taxation Related Questions

      Relevant for Exams:

      ask-question