The Minimum Alternative Tax MAT was introduced in the Budget of the Government of India for the year........

Economic Affairs Tax System

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The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year

1991

1992

1985

1987

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Explanation:

Minimum Alternate Tax (MAT) is a tax effectively introduced in India by the Finance Act of 1987, vide Section 115J of the Income Tax Act, 1961 (IT Act), to facilitate the taxation of ‘zero tax companies’ i.e., those companies which show zero or negligible income to avoid tax. Under MAT, such companies are made liable to pay to the government, by deeming a certain percentage of their book profit as taxable income.
It was introduced in Budget for the year 1992.