Business Tax, MAT & AMT Calculator (AY 2026-27) | CMA Knowledge
Business Taxation & MAT/AMT Calculator
Assessment Year 2026-27 (Financial Year 2025-26)
Quick Reference: Income Tax Sections Used
Sec 115BAA: Concessional corporate tax rate of 22% (plus flat 10% surcharge) for domestic companies not claiming specific deductions. MAT is not applicable.
Sec 115JB (MAT): Minimum Alternate Tax. If normal tax is less than 15% of Book Profits, the company must pay 15% of book profits to ensure zero-tax companies pay a minimum amount.
Sec 115JC (AMT): Alternate Minimum Tax. Similar to MAT but applicable to non-corporate entities (like Firms) claiming profit-linked deductions.
Sec 208: Mandates the payment of Advance Tax in installments if estimated annual tax liability is ₹10,000 or more.
Sec 234A: Penal interest at 1% per month for delay in filing the Income Tax Return beyond the due date.
Sec 234B: Penal interest at 1% per month if Advance Tax paid is less than 90% of the final assessed tax liability.
Sec 234C: Penal interest at 1% per month for deferment or shortfall in the specific quarterly Advance Tax installments (15%, 45%, 75%, 100%).
