India’s tax system landscape includes various provisions to ensure that every taxpayer pays a minimum amount of tax to the government, even if their taxable income is reduced materially due to various deductions, exemptions and incentives.
Two such mechanisms are MAT (Minimum Alternate Tax) and AMT (Alternate Minimum Tax). While both serve similar purposes, they are applicable to different categories of taxpayers and have different frameworks and structure.
Read full: MAT vs AMT
This blog explains what MAT and AMT are, their objectives, calculation methods, applicability, and the key differences between them.
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