RE:What is MAT all about?
by Amitabh on Mar 03, 2007 02:21 AM Permalink
there are many companies that have profits and are paying dividend to the shareholders but because of various exemptions provided in the tax laws,do not pay tax.To plug this loophole,it has been provided that where the income tax to be paid by a company is less than 7.5% (10% in this budget) of its book profits,7.5%(10% in this budget) of the book profits will be treated as tax to be paid by the company.
