New Delhi, Jan 6:
In significant relief to firms undergoing insolvency resolution, the Finance Ministry has now eased provisions of minimum alternate tax (MAT) for them.
Accordingly, companies against whom corporate insolvency resolution process has been initiated can now reduce the total loss brought forward (including unabsorbed depreciation) from the book profit for the purpose of MAT.
Representations have been received from various stakeholders that the companies against whom an application for corporate insolvency resolution process has been admitted by the Adjudicating Authority, are facing hardship due to restriction in allowance of brought forward loss for computation of book profit, said the Central Bo…
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