TaxTMI 
TaxTMI 
Whether penalty u/s 271(1)(c) will apply, if MAT is not paid?
Penalty u/s 271(1)(c) if MAT not paid
07 Jan 2011 
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MAT non-payment may attract penalty under income tax provisions since MAT is treated as income tax liability.
Non-payment of Minimum Alternate Tax (MAT) is treated as non-payment of income tax for statutory purposes, and therefore the general penalty provisions addressing concealment or inaccurate particulars, including those invoked under section 271(1)(c), apply to failure to pay MAT. (AI Summary)
Non-payment of Minimum Alternate Tax (MAT) is treated as non-payment of income tax for statutory purposes, and therefore the general penalty provisions addressing concealment or inaccurate particulars, including those invoked under section 271(1)(c), apply to failure to pay MAT. (AI Summary)