Tag: minimum alternate tax
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MAT and the Finance Act: Is it justifiable to impose MAT on SEZs?
By Sudipta Bhowmick, KIIT School Of Law, Bhubaneswar. Introduction: How MAT was stretched out? The Concept of Minimum Alternate Tax (MAT) was introduced for the first time in the annual year 1988-89 under Section 115J of Income Tax Act,1961 to tax big corporate groups which had become Zero Tax companies. This section provided for levy…