Minimum Alternative Tax (MAT)
Minimum Alternative Tax (MAT) The concept of MAT was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT. The introduction of the concept of Minimum alternative tax was to take the “zero tax” companies into the taxation bracket. It is payable under the Income-tax Act. According to Section 115JB, every taxpayer or company is eligible to pay income tax. It is applicable for all the public and private companies, including Indi ...