Section 115JB: Minimum Alternate Tax Applies Solely to Companies, Not Broadened by Other Act Definitions.

Section 115JB: Minimum Alternate Tax Applies Solely to Companies, Not Broadened by Other Act Definitions. https://www.taxtmi.com/highlights?id=67738 MAT applicability u/s 115JB - Deemed company - that definition includes the corporation but provision of section 115JB deals only charge of tax of a company and it refers the section 129 of the Companies Act only. - The charge of tax being a separate code and the section clearly cover the type of company under the tax net the same cannot be widened based on the definition given in the Act for the other purposes. - AT en-us Mon, 16 Jan 2023 08:42:29 +0530 Mon, 16 Jan 2023 08:42:29 +0530 TaxTMI RSS Generator Section 115JB: Minimum Alternate Tax Applies Solely to Companies, Not Broadened by Other Act Definitions. https://www.taxtmi.com/highlights?id=67738 MAT applicability u/s 115JB - Deemed company - that definition includes the corporation but provision of section 115JB deals only charge of tax of a company and it refers the section 129 of the Companies Act only. - The charge of tax being a separate code and the section clearly cover the type of company under the tax net the same cannot be widened based on the definition given in the Act for the other purposes. - AT Highlights Income Tax Mon, 16 Jan 2023 08:42:29 +0530 https://www.taxtmi.com/highlights?id=67738