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Rationalization of Minimum Alternate Tax provisions

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....s charged on the Book profit of the assessee at the rate of 15% for corporates (other than units located in an International Financial Services Centre). In case the MAT is higher than the income-tax payable on the company's total income computed under normal tax provisions, the assessee pays MAT. 2. When a company pays MAT when it is higher than regular tax, the excess amount paid is allowed ....

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Rationalization of Minimum Alternate Tax provisions