Bharat Minimum Alternate Tax (MAT) under Schedule III of Companies Act, 2013 By CA. Kamal Garg Edition April 2023

Bharat Minimum Alternate Tax By CA. Kamal Garg

Bharat Minimum Alternate Tax By CA. Kamal Garg

Contents

Chapter 1       Minimum Alternate Tax (MAT) — An Introduction

Chapter 2       Net Profit as per Profit and Loss Account

Chapter 3       Income Tax Paid/Payable/Provision for Income Tax

Chapter 4       Amounts Carried to Reserves

Chapter 5       Unascertained Liabilities

Chapter 6       Provision for Losses of Subsidiary Companies

Chapter 7       Dividends paid or proposed

Chapter 8       Tax Free Incomes and Expenditures Related to them

Chapter 9       Expenditure Relatable to Share of Income in AOP/BOI

Chapter 10     Expenditure relatable to Foreign Company’s Income Taxable at less than MAT rate

Chapter 11     Notional Loss of Sponsors of REITS and INVITS on Exchange of Shares in SPV for Units of REIT/INVIT or Due to Change in Value of Units or Loss on Transfer of Units

Chapter 12     Expenditure Relatable to Resident Company’s Royalty Income from Patents Chargeable to tax u/s 115BBF @ 10% (i.e. at less than MAT rate)

Chapter 13     Amount of Depreciation and Revaluation Reserve in Respect of Asset Retired/Disposed Off

Chapter 14     Withdrawals from Reserves or Provisions

Chapter 15     Loss Brought Forward or Unabsorbed Depreciation

Chapter 16     Profits of a Sick Industrial Company

Chapter 17     FAQs under MAT

Chapter 18     Rationalisation of provisions of section 115JB in line with Indian Accounting Standard (Ind-AS)

Appendix 1    Indian Accounting Standard (Ind AS) 101: First-time Adoption of Indian Accounting Standards

Chapter 19     Format of Financial Statements for Companies (Other than NBFCs) required to comply with Ind-AS under Companies Act, 2013 — Division II of Schedule III

Chapter 20     FAQs on Schedule III under Companies Act, 2013

Chapter 21     Ind AS Financials Format — A Comparison with AS Financials Format

Chapter 22     Significant Accounting Standards pertinent to MAT under Income Tax Act, 1961

Chapter 23     Accounting Treatment for MAT Credit

Chapter 24     Special Provisions Relating to Certain Limited Liability Partnerships (LLP)

Chapter 25     Alternate Minimum Tax (AMT) on all persons other than companies [Section 115JC to 115JF Chapter XIIBA]

Chapter 26     Significant Judgments on MAT

Chapter 27     Levy of MAT on FIIs

Chapter 28     Illustrations on MAT

Chapter 29     Draft guidelines for computation of book profit by  Ind AS Compliant Companies

Appendix 1    Relevant Statutory Provisions

Appendix 2    Rule 40B with Form 29B

Appendix 3    Sections 115JC to 115JF

Appendix 4    Rule 40BA with Form 29C

Appendix 5    Schedule III of Companies Act, 2013

Appendix 6    Schedule II of Companies Act, 2013