Multiple choice

The Minimum Alternative Tax (MAT) was introduced in the budget of the government of India for the year

  1. 1991-92

  2. 1992-93

  3. 1995-96

  4. 1996-97
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

MAT or Minimum Alternative Tax was introduced in the budget of 1996-97. Under MAT, a company is required to pay a minimum tax of 7% of the book profit in case the tax on the total income computed under the normal provisions of law works out to be less than this amount.

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