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Questions and Answers
What is the purpose of the Minimum Alternate Tax (MAT) provision in the Indian tax law?
What is the purpose of the Minimum Alternate Tax (MAT) provision in the Indian tax law?
- To provide tax credits to companies
- To reduce the tax burden on companies
- To exempt companies from paying taxes
- To ensure that companies pay a minimum amount of tax (correct)
Under what circumstances is the Minimum Alternate Tax (MAT) applicable to companies?
Under what circumstances is the Minimum Alternate Tax (MAT) applicable to companies?
- When companies are not claiming deductions under specific sections of the Income Tax Act (correct)
- When companies are exempt from paying any tax
- When companies claim deductions under specific sections of the Income Tax Act
- When companies have a high profitability margin
What type of companies does the Minimum Alternate Tax (MAT) provision target?
What type of companies does the Minimum Alternate Tax (MAT) provision target?
- Companies claiming deductions under all sections of the Income Tax Act
- Companies not claiming deductions under specific sections of the Income Tax Act (correct)
- Companies with significant tax credits
- Companies with high profitability
Which of the following statements is true about the Minimum Alternate Tax (MAT) provision?
Which of the following statements is true about the Minimum Alternate Tax (MAT) provision?
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