Mat Rate For Ay 2009 10

Assessment year 2019 20 in case of a unit located in an ifsc which derives its income solely in convertible foreign exchange the rate of amt under section 115jf shall be at the rate of 9 instead of existing rate of 18 50.

Mat rate for ay 2009 10. 10 00 000 is limited to the amount by which the income is more than rs. Rs 1 50 000 to 3 00 000. Normal tax rate applicable to an indian company is 30 plus cess and surcharge as applicable. Tax paid under section 115jb for a y.

Companies have to pay mat u s 115jb at the rate of 10. Income tax rates assessment year 2009 2010 relevant to financial year 2008 2009. The maximum amount of mat credit that you can claim cannot exceed the difference between the normal tax liability and the mat liability in the year for which the mat credit is being availed. Tax 30 on rs.

Applicable for ay 2010 11 fy 2009 10 mat credit is permitted up to 10 years from current 7. Tax rates as applicable for different persons for the a y. The tax liability of a company will be higher of. 1 lakh the tax liability as per the normal provisions for fy 2019 20 is rs.

1 80 000 nil nil nil rs. The above difference for set off of mat credit has been reduced to 13 03 from 30 25 in ay 2001 02. This rate has been revised to 15. Tax rates are for assessment year 2012 13 assessment year 2011 12 assessment year 2010 11 ay 2009 10 basic rates for companies are same however surcharge has been reduced to 5 from 10 dividend distribution tax rate are same in last four years mat minimum alternate tax rate has been increased in last four years.

10 lakh while that as per the. Rs 3 00 000 to 5 00 000. Surcharge 10 applicable if total income exceeds rs. For provisions relating to amt refer tutorial on mat amt in tutorial section.

Thus corporates were given higher mat credit when tax liability under mat was very low and reduced the same when rate under mat increased to very high rate of 18 5. Applicable for ay 2010 11 fy 2009 10 minimum alternate tax. No option left for the corporates. With effect from 01 10 2004 short term capital gains arising on sale of equity shares or.

Marginal relief would be provided to ensure that the additional income tax payable including surcharge on the excess of income over rs. 2009 10 are as under. I normal tax liability or ii mat. 28 40 000 will amount to rs.

Net income range income tax rates surcharge education cess upto rs. Book profit of the company is rs. Tax rates for individuals other than ii iii. For resident woman who is below 65 years of age at any time during the previous year.