MAT hiked from 18% to 18.5%

Presenting the budget 2011-12 in the Lok Sabha today, the Finance Minister Shri Pranab Mukherjee hiked the minimum alternate tax rate from 18% to 18.5% of book profits.

Developers of Special Economic Zones as well as units operating MAT in SEZs have been brought under MAT. Tax benefit for investment in long term infrastructural bonds will continue for one more year.

Income from foreign subsidiaries of Indian Company will now attract a lower tax of 15% tax on dividends.

Source : Equity Bulls

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