Mat Tax In Hindi

Tax 30 on rs.

Mat tax in hindi.

Tax liability of a company for fy 2019 20 under normal provisions of the income tax act is rs. Visit now to know more about tax related news on economic times. 8 40 000 will amount to rs. Different types of taxes are levied by the government of india from individuals as well as companies.

This tax came into play to ensure that none of the taxpayers with a good amount of income get to avoid tax liability due to any exclusions. 91 9889004575 mail id. 8 lakh while the liability as per the provisions of mat is rs. However mat would be rs1 29lakh 18 5 of rs7lakh.

Minimum alternate tax mat minimum alternate tax mat is a tax effectively introduced in india by the finance act of 1987 vide section 115j of the income tax act 1961 it act to facilitate the taxation of zero tax companies i e those companies which show zero or negligible income to avoid tax. Minimum alternate tax mat minimum alternate tax is the tax paid by all the companies that come under the indirect tax category. Amount of mat credit mat normal tax liability. 011 45695551 gorakhpur.

Normal tax rate applicable to an indian company is 30 plus cess and surcharge as applicable. In this case mat is higher than the normal tax liability and hence the company is eligible for mat credit as per section 115jaa. I normal tax liability or ii mat. The primary cause is not tax evasion or a lack of adequate government policies but the feature of tax system incentives deduction and exemptions.

The tax is calculated on the basis of the following factors. Therefore applicable income tax is charged 30 i e. 91 7052208065 mobile. Book profit of the company is rs.

18 5 along with surcharge and cess will be levied on book profits in domestic currency or 9 in convertible foreign exchange. The tax liability of a company will be higher of. Get the latest ट क स news income tax क त ज ब र क ग न य ज tax filing income tax rates tax return news in hindi. Under mat such companies are made liable to pay to the government by deeming a certain percentage of their book profit as taxable income.

What is minimum alternate tax mat the concept of mat was introduced under ita to tax companies making high profits and declare dividends to their shareholders but have no significant taxable income because of exemptions deductions and incentives. The tax is applicable on all entities operating in india irrespective of indian or foreign ownership. Normal income tax liability of the company or entity.