#Budget2010: Pranab Pushes it Under the MAT again

Former FM P. Chidambaram launched Minimum Alternate Tax 14 years ago to bring tax-saving companies under the tax net. Pranab Mukherjee has used it as a revenue raising tool. He attacked it last year and has returned to it this year. The increase in the rate from 15 percent to 18 percent has brought the tax burden on such firms that much closer to the regular rate.