Can I read Minimum Alternate Tax Guidelines 2024 on EtoBox?

Minimum Alternate Tax Guidelines 2024 by srushti thorat is a document available to read on EtoBox.

What is Minimum Alternate Tax Guidelines 2024 about?

MAT or Minimum Alternate Tax is applicable to companies where the tax payable is higher of the normal tax rate or 15% of book profits with certain adjustments. Book profits are calculated by making additions and deductions to net profits as shown in the profit and loss account. MAT credit can be carried forward and set off for 15 years to offset against normal tax payable in future years. Companies opting for the new lower tax rate under section 115BAA cannot claim MAT credit.

Author

srushti thorat

Language

EN