Ganesh Raj, tax partner, Ernst & Young, however, said, “While the new system will have affected companies claiming huge tax sops, it will completely change the nature of MAT. It will be more of a compulsory tax for all companies rather than for zero tax companies.”
However, some tax experts feel that withdrawal of minimum alternate tax would be a better idea. Vivek Vasal director, KPMG, said, “If the government is serious about reducing the number of tax exemptions, it definitely needs to withdraw MAT.”
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