Purpose of minimum alternate tax mat 2 profit and loss account is to be reduced by amount computation under the income tax act 1961 the act.
Mat computation pdf.
Tax on total income computed as per the normal provisions of the income tax act 30 on domestic companies and 40 on foreign companies.
Although mat foundations are more difficult and more costly to design than individual spread footings they can be used effectively.
Income tax payable shall be the higher of the following amounts.
The minimum alternative tax mat is a provision introduced in direct tax laws to limit the tax deductions exemptions otherwise available to taxpayers so that they pay a minimum amount of tax to the government.
Considered in the computation should be from the start of the employee s maternity leave up to the day prior to the date of death.
Computation of book profit is discussed in later part.
March 27 2018 acknowledgments in this book i tried to present some of the knowledge and understanding i acquired in my four decades in the eld.
Contingency august 5 1998 start of maternity leave august 1 1998 1.
Mat size mat size deducted from point load in 3 in kns soil type value 2 73500 x 9 81 721 035 kns 721 0kns 300kn m2 2 40 m2 1 6m x 1 6m minimum a.
Minimum alternative tax mat and its computation of book profit and mat credit under section 115jb of income tax act 1961.
However under certain circumstances it may be desirable to construct a footing that supports a line of two or more columns.
Avi wigderson mathematics and computation draft.
The tax computed by applying 15 plus surcharge and cess as applicable on book profit is called mat.
Mat foundations introduction under normal conditions square and rectangular footings are economical for supporting columns and walls.
Before proceeding on how mat is calculated first provisions related to mat calculation is important to learn.
The starting point for mat computation is profit before other comprehensive income oci and not the total comprehensive income.
The tribunal rejected the taxpayer s methodology and observed that though the taxpayer restricted the quantification of set off to lower of unabsorbed loss or unabsorbed.
A mat foundation also may be used to resist hydrostatic pressures or to bridge over small soft spots in the soil provided the mat is adequately reinforced.
The main source of this knowledge was the theory of computation commu nity which has been my academic and social home throughout this period.
Summary of clarifications issued by the cbdt on the mat provisions applicable to ind as reporters.
Any loss arising out of fair value adjustments of financial instruments measured at fair value.
The semester of contingency is april 1998 to sept.
Soil is compact ground gravel 100mm in depth covered in tar.
