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      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.

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