https://www.taxtmi.com/manuals?id=1592 Section 115JB(7) provides that where the assessee is an IFSC unit deriving income solely in convertible foreign exchange, the MAT provision shall operate as if the general MAT rate in the principal sub section were substituted by the lower rate specified in sub section (7); IFSC and convertible foreign exchange are to be understood by reference to the Special Economic Zone Act, 2005 and RBI/FEMA treatment respectively. en-us Sat, 01 Jul 2017 11:00:00 +0530 Wed, 08 May 2024 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1592 Section 115JB(7) provides that where the assessee is an IFSC unit deriving income solely in convertible foreign exchange, the MAT provision shall operate as if the general MAT rate in the principal sub section were substituted by the lower rate specified in sub section (7); IFSC and convertible foreign exchange are to be understood by reference to the Special Economic Zone Act, 2005 and RBI/FEMA treatment respectively. Manuals Income Tax Sat, 01 Jul 2017 11:00:00 +0530 https://www.taxtmi.com/manuals?id=1592