Ch 1 · Taxation of Companies & MAT

5 concept points · 3 formulas · 4 exam-critical points.

📘 Core concepts

• 1Domestic company tax rates: 25% (turnover ≤ ₹400 cr in 2 PYs back) / 30% (others) + surcharge + cess.
• 2Section 115BAA: 22% optional regime; surcharge 10%, effective ~25.17%.
• 3Section 115BAB: 15% for new manufacturing cos (incorp Oct 2019 to Mar 2024 — extended).
• 4MAT (Sec 115JB): 15% of book profit if normal tax lower — for non-115BAA/BAB companies.
• 5MAT credit carry-forward 15 AYs.