New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Recently norms related to Minimum Alternative Tax (MAT)

    has been relaxed for companies facing insolvency process. The provision of MAT is in:
    A Companies Act 2013 Correct Answer Incorrect Answer
    B Income Tax Act, 1961 Correct Answer Incorrect Answer
    C Wealth Tax Act, 1957 Correct Answer Incorrect Answer
    D Reserve Bank of India Act, 1934 Correct Answer Incorrect Answer
    E SARFAESI act 2002 Correct Answer Incorrect Answer

    Solution

    MAT is under section 115J of the Income Tax Act 1961.These companies have to pay a minimum 18.5% of book profit.

    Practice Next