Penalty u/s 271(1)(c) if MAT not paid

[Chandravijay Shah]

Whether penalty u/s 271(1)(c) will apply, if MAT is not paid?

AI Summary

Penalty Under Section 271(1)(c) Applies to Non-Payment of Minimum Alternate Tax as it is Part of Income Tax. A query was raised regarding the applicability of penalty under section 271(1)(c) of the Income Tax Act if Minimum Alternate Tax (MAT) is not paid. A response clarified that MAT is considered a part of income tax, and therefore, the provisions related to income tax, including penalties, would apply to MAT as well.