What is MAT – Minimum Alternate Tax? MAT stands for Minimum Alternate Tax, described as a direct tax that has to be paid by the companies that are enjoying tax benefits or tax exemptions, instead of having huge profits, under various schemes framed under Income Tax Act. Now after the insertion of MAT they have […]
Aam Aadmi’s Expectations from Budget 2013
What Salaried Persons are expecting from Budget 2013? With Budget 2013 less than a month away, discussion and debate have reached on high fever. The Budget is expected to have something for all segments- be it the small Investor, the Corporate sector or other industry segments. These all are important but common man is more […]
Section 115JB- Alternate Minimum Tax on LLP
Alternate Minimum Tax on Limited Liability Partnership u/s 115JB Section 115JB- Alternate Minimum Tax on LLP Alternate Minimum Tax (AMT) was introduced by the Finance Act, 2011 w.e.f. 01.04.2012 on Limited Liability Partnerships (LLP). Prior to this, LLP were liable to pay regular income tax @ 30% (plus education cess) of the total income computed […]