Section 115JB exempts SEZ businesses from Minimum Alternate Tax (MAT) on income from April 1, 2005, onwards.

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....Minimum Alternate Tax (MAT) on SEZ units - provisions of section 115JB shall not apply to the income accrued or arisen on or after 1.4.2005 from any business carried on, or services rendered, by an entrepreneur or a Developer, in a Unit or Special Economic Zone, as the case may be. - AT....