Posts tagged taxation

Minimum Alternate Tax (MAT)

Brief On Revised Discussion Paper For Direct Tax Code (DTC) For Minimum Alternate Tax (MAT) Minimum Alternate Tax (MAT)

Current Situation:

MAT applicable on Book profit Proposed in DTC:

The DTC has proposed a MAT on companies calculated with reference to the “value of gross assets”.

Limitation of MAT to be applied on basis More >

What is Deemed Income?

Do You have Deemed Income ?

  • The government “deems” it fit to see income even when there might be none. At present 22 such provisions exist in the Income Tax Act
  • In case of a seller; if a person has sold a flat for 22 lakhs but the fair value assessed by More >