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Tag Archives: MAT

As the number of zero tax companies and companies paying marginal tax had grown, the Minimum Alternate Tax Provision has been inserted in the Income Tax Act. It was felt that various concession given under the tax laws, big corporate groups become zero tax companies, to counter this, as the system of MAT was introduced.

 In this article, I would like to share some of my views in respect of Presumptive Profit under the Head Business or Profession vis-à-vis section 115JB.

 Applicable sections to calculate the Presumptive income under the head of business or profession are 44AD, 44AE, 44AF, 44B, 44BB, 44BBA and 44BBB.

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