Guide to .. Tax Management ,Tax Planning and Tax Saving
 

Minimum Alternate Tax (MAT) Rates for the A.Y. 2018-19 and 2019-20

Assessment Year 2018-19

 

Domestic Company

Foreign Company

If Book Profit does not exceed Rs. 1 Crore :

 

IT

18.5 (Note-1)

IT

18.5 (Note-1)

SC

-

SC

-

EC+SHEC

0.555

EC+SHEC

0.555

TOTAL

19.055

TOTAL

19.055

If Book Profit is in the range of Rs.1 Crore – Rs.10 Crore

IT

18.5 (Note-1)

IT

18.5 (Note-1)

SC

1.295

SC

0.37

EC+SHEC

0.59385

EC+SHEC

0.5661

TOTAL

20.38885

TOTAL

19.4361

If Book Profit exceed Rs. 10 Crore

IT

18.5 (Note-1)

IT

18.5 (Note-2)

SC

2.22

SC

0.925

EC+SHEC

0.6216

EC+SHEC

0.58275

TOTAL

21.3416

TOTAL

20.00775

 

Assessment Year 2019-20

 

Domestic Company

Foreign Company

If Book Profit does not exceed Rs. 1 Crore :

 

IT

18.5 (Note)

IT

18.5 (Note)

SC

-

SC

-

EC+SHEC

0.74

EC+SHEC

0.74

TOTAL

19.24

TOTAL

19.24

If Book Profit is in the range of Rs.1 Crore – Rs.10 Crore

IT

18.5 (Note)

IT

18.5 (Note)

SC

1.295

SC

0.37

EC+SHEC

0.7918

EC+SHEC

0.7548

TOTAL

20.5868

TOTAL

19.6248

If Book Profit exceed Rs. 10 Crore

IT

18.5 (Note)

IT

18.5 (Note)

SC

2.22

SC

0.925

EC+SHEC

0.8288

EC+SHEC

0.777

TOTAL

21.5488

TOTAL

20.202

Note -1 :

9%, if the assessee is a unit located in an International Financial Services Centre and derives its income solely in convertible foreign exchange.

Note -2 :

If book profit of a company exceeds Rs. 1 crore but does not exceed Rs. 10 crore, the minimum alternate tax cannot exceed the following: (Rs. 18.5 Iakh + book profit - Rs. 1 crore) + (EC + SHEC) or HEC. If, however, book profit exceeds Rs. 10 crore, the minimum alternate tax cannot exceed the following —

a.         in the case of domestic company, (Rs. 197.95 lakh + book profit - Rs. 10 crore) + (EC + SHEC) or HEC;

or

b.         in the case of a foreign company, (Rs. 188.7 lath + hook profit — Rs. 10 crore) + (EC + SHEC) or HEC.

 

Surcharge : on Minimum Alternate Tax (MAT) / Alternate Minimum Tax (AMT)

If Total Income is in the range of  >>>

0— Rs 50 lakh

Rs.  50 lakh- 1 Crore

Rs. 1 Crore Rs. 10 Crore

Above Rs. 10 Crare

- Individuals/HUF/AOP/BOI/ Artificial Juridical Person

Nil

10%

15%

15%

- Firm/Co-Operative Society / Local Authority

Nil

Nil

12%

12%

- Domestic Company

Nil

Nil

7%

12%

- Foreign Company

Nil

Nil

2%

5%

Note :

The above surcharge is subject to a Marginal Relief

 
 

 
 
 
 
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