Mat Rate For Ay 2016 17

The rate of 9 instead of existing rate of 18 50.

Mat rate for ay 2016 17.

A resident individual whose net income does not exceed rs. Amt would be computed at the rate of 18 5 on adjusted total income. 19 055 ati exceeding 1 cr 20 9605. Income tax rates tax slabs ay 2014 2015 2015 2016.

Ay 2016 17 ay 2017 18 ati up to 1 cr 19 055. Income tax slabs for fy 2016 17 ay 2017 18. Download income tax calculator for a y. For minimum alternate tax mat.

For assessment year 2017 18 tax rate would be 29 where turnover or gross receipt of the company does not exceed rs. 5 00 000 can avail rebate under section 87a. We have attached below an excel utility to compute the mat as per provisions of section 115jb of income tax act 1961. Secondary and higher education cess is applicable 1 on income tax.

Education cess is applicable at the rate of 2. Income tax slab rates marginal relief mat for a y 2016 2017 p y 2015 2016 for different taxpayers. Surcharge has been increased from 10 to 12 where the adjusted total income exceeds rs. On minimum alternate tax mat alternate minimum tax amt a mat was introduced for the first time in the ay 1988 89.

For provisions relating to mat refer tutorial on mat amt in tutorial section. Mat stands for minimum alternate tax described as a direct tax that has to be paid by the companies that are enjoying tax benefits or tax exemptions instead of having huge profits under various schemes framed under income tax act. It was felt that due to various concession provided in tax laws big corporate groups become zero tax companies. Income tax calculator for fy 2006 07 to fy 2016 17.

For individuals males and females both below the age of 60 years hufs aops bols income tax rates tax slabs ay 2018 2019 2019 2020. 2016 17 9 14 640 4 94 400. Minimum alternate tax mat rates for the a y.