Minimum Alternate Tax adjustments: patent royalty included, MAT rate reduced for IFSC units, and exclusions for certain foreign companies.

Amendments adjust book profit computation to account for patent royalty expenditures and income under the special patent royalty tax regime; retrospectively exclude certain foreign companies without an Indian permanent establishment (or without company registration obligations) from the section's applicability; and grant IFSC units earning solely in convertible foreign exchange a reduced effective tax charge under the special provision, with definitions for IFSC, unit, and convertible foreign exchange.

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