Minimum alternate Tax (MAT)
It was introduced to farce companies which did not pay tax due to availability of concessions, exemptions and dedications to pay tax.
- The companies make profit as per profit and loss account but do not pay tax due to concessions. So they are made to pay a nominal amount as tax. Companies making profit pay tax, and MAT could be offset in case of a future loss. It is only a farm of advance tax
India –America partnership
- Key component of America’s rebalance to the Indo- Asia pacific
- Us India Joint strategic vision for Asia – pacific –signed between both sides in Jan 15- which specifically referred to Safeguarding maritime security in the south china sea
- U.S. admiral see’s china’s naval presence in the Indian ocean as “positive ‘– It was involved in the anti-piracy operations in the Guilt of Aden.
- Malabar – naval exercise between India and US
- Under rebalance to Asia, a U.S. plan to shift 60% of is nary to pacific fleet by 2020.