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    Question

    As per the Income Tax Act of 1961, Section 115JB, the

    Minimum Alternate Tax (MAT) is calculated at what percentage of the book profit?┬а
    A 10% Correct Answer Incorrect Answer
    B 15% Correct Answer Incorrect Answer
    C 20% Correct Answer Incorrect Answer
    D 25% Correct Answer Incorrect Answer

    Solution

    The Minimum Alternate Tax (MAT) is calculated at 15% of the book profit. This provision ensures that companies with large profits, but minimal taxable income through exemptions, still contribute a fair share of taxes.

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