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 |
|