Interested to Buy Any Domain ? << Click Here >> for more details...
what is mat calculation ?
- 2 Answers
- 6961 Views
- HSBC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
MAT - MAT stands for Minimum Alternate Tax.
In India Profit & Loss A/c of a Corporate entity is prepared
as per the Companies Act, 1956. Taxable Income & Income Tax
is calculated as per the Income Tax Act, 1961. There are
many cases wherein, The Company has earned profit as per the
P&L A/c (Called Book Profit). However when Computation is
made for Income Tax Purposes, the Taxable Income may be Nil
or Negative. One of the reasons of this is the difference in
the method & rates of depreciation allowance under these Acts.
To plug this loophole the Government has introduced Section
115JA to the Income Tax Act w.e.f. the Assessment year
1997-98. As per this section, if the Income computed as per
the Provisions of the Income Tax Act is less than 30% of
Book Profit for any previous year, The total income is
deemed to be 30% of Book Profits for that year & charged to
Income Tax @ the MAT rate specified.
| Is This Answer Correct ? | 15 Yes | 0 No |
what will you do if you dont get this job
12 Answers Bank Of America, Schlumberger, State Street, Videocon,
What is audit control procedure?
What is the role of internal audit?
If a charity is required to have an audit carried out due to the level of incoming resources or expenditure, but then is below the threshold in the following years, is an audit still required?
Explain the importance of internal audit to the organization?
What is your major weakness?
5 Answers ABB, Price Waterhouse Coopers,
Is there any disqualification of an auditor if he is Indebted to a partnership firm and proprietor???
What is CARO 2003? What do you mean by management audit?
i need to pay around $90000 to Mr.R and the agreement clause says that any amount payable as tax are not included in the amount.So how much i need to deduct TDS...??
i am deposit cash in my bank. And i want to do sale against cash deposited into bank. but i face some problem,, like how can i handle daly basies expensies when i am doing sale against cash deposit in tally how can i manage this type of problems. any body can please tell me.
How to do an internal audit effectively?
what type of questions will be asked in the interviews
Audit 
