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MAT under Section 115JB is NOT applicable to companies opting:
ASection 115BA
BSection 115BAA or 115BAB
CAll foreign companies
DPublic companies
Answer & Solution
Correct answer: B. Section 115BAA or 115BAB
1. Companies opting Section 115BAA (22%) or 115BAB (15%) are exempted from MAT.
2. They forgo MAT credit and various deductions for the lower base rate.
3. Foreign companies are MAT-exempt unless PE in India.
_Source: ICAI BoS CA Final Paper 7, Ch 9 "Assessment of Various Entities"_
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