A. Brief Background MAT stands for Minimum Alternate Tax. MAT was introduced by the Finance Act, 1987 with effect from the assessment year 1988-89. Later on, it was withdrawn by the Finance Act, 1990, and then reintroduced by Finance (No. 2) Act, 1996, w.e.f 1-4-1997. The concept of MAT was introduced for companies and progressively...