MAT relief to firms facing insolvency – The Hindu
The Income Tax Department has relaxed norms for levy of Minimum Alternate Tax (MAT) on companies facing corporate insolvency proceedings. With effect from assessment year 2018-19 (FY2017-18), in case of a company, against whom an application for corporate insolvency resolution process has been admitted by the adjudicating authority under…the IBC, the amount of total loss…