MAT - Introduction

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..... ssive profit in the accounts as laid in the Annual General Meeting (AGM) before the shareholder but at the same time these companies also showing profit nil or bit above nil for the income tax purpose .....

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..... x. The objective of introduction of MAT is to bring into the tax net zero tax companies which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax .....

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