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Question ID : 2513

minimum alternate tax on one time settlement

My clent has undergone for a one time settlement with bank. Total dues of 6 crore were settled on Rs. 2.25 crore. Is MAT is payable on this Ga of 3.75 crore, if yes is there any way to avoid the tax. '

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Posted by ANIL KUMAR ARORA on Apr 25, 2006
Filed Under DIRECT TAXES

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