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Can Securities Transaction Tax rebate u/s 88E be deducted from Minimum Alternate Tax u/s 115JB?
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....Whether rebate u/s 88E for STT paid has been allowed from tax payable under MAT u/s 115 JB - when the total income is assessed and the tax chargeable is computed, it is from that tax which is chargeable, the tax paid u/s 88E is given deduction, by way of rebate, u/s 87. - AT....
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