Provisions of MAT - Rates - [Section 115JB(1)]

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s than 15% of its book profits, such book profits shall be deemed to be the total income of the assessee and the tax payable on such total income shall be the amount of income-tax at the rate of 15%. Thus in case of a domestic company, the income tax payable shall be the higher of the following amounts: * Tax on total income computed as per the normal provisions of the income tax act by chargin....