- 05/17/2019 at 5:44 am #875004EduGorillaKeymasterSelect Question Language :
Minimum alternate tax (MAT) was meant to discourage companies from arranging their tax affairs in a way that would result in huge book profits, a substantial dividend payout, and no tax liability because of liberal rates of depreciation and other incentives. But introduction of MAT created negative impression on investors.
Now the government is planning to abolish MAT along with exemptions and incentives that are provided. This will not affect government’s income from taxes. However, an abrupt withdrawal of exemptions and incentives is also unfair to investors who have made investment commitments in the belief that they would be entitled to these breaks.
With reference to passage consider the following statements:
1. Professional societies cannot relegate the history of science in the background.
2. Understanding nature of reality is science and it is here Indian and Western approaches greatly differ.
Which of the statements given above is/are correct?
Both 1 and 2
Neither 1 nor 2
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