Checkmated?

But there's another side to the problem. There is currently a draconian suggestion by the ministry that MAT will be repealed by aligning the rates of depreciation of Income Tax Act and Companies Act. But is that acceptable to the market? No. Why? Because if this is done, not only will the zero-tax companies lose all avenues of shelter, but also the whole corporate world will be brought into the tax net. The implication: While MAT hurt only two types of companies