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Jan 25
Section 115JB of The Income Tax Act, 1961: Special Provisions for Payment of Tax by Certain Companies
Section 115JB of the Income Tax Act, 1961, often referred to as the Minimum Alternate Tax (MAT) provision, was introduced to ensure that companies with substantial book profits but low or no taxable income still pay a minimum level of tax. It applies primarily to companies that, due to certain…