Full Form of MAT:
Management Aptitude Test
MAT Full Form is Management Aptitude Test. MAT refers to a standardized test that is being conducted since 1988 for the purpose of facilitating Business schools in the screening candidates for admission to MBA and allied courses, which are approved by the Ministry of Human Resource Department, Government of India. Any Business School, both national or international, can regard MAT score for enrolling students in various offered programs.
MAT is both Computer-based Test (abbreviated as CBT) and Paper-Based Test. There is a cap on the number of candidates that can write CBD. In the examination, the questions are objective type, being 200 in number. The duration of the examination is 2.5 hours. There are five sections in the paper, namely: Mathematical Skills, Language Comprehension, Intelligence and Critical Reasoning, Indian and Global Environment, and Data Analysis and Sufficiency.
The Eligibility criteria for MAT are as follows: (1) The interested candidate must be a graduate in any discipline. (2) Those candidates who are in the final year of their graduation program are also eligible to apply. (3) There is no prescription of age bar for appearing in the examination. (4) Work experience is not a mandatory requirement for the purposes of MAT. The marking scheme employed in MAT such that for every correct attempt, one mark shall be awarded and for every incorrect attempt, one-fourth mark shall be deducted. The candidates who score the minimum cut off are eligible to appear in further admission procedures employed by participating institutes.
The selection process differs from one institute to another; some organize Group Discussion (abbreviated as GD) and Personal Interview (abbreviated as PI) and sometimes, a Written Ability Test (abbreviated as WAT). MAT is one of the most reputed examinations conducted for admission to business schools and witnessed huge participation from students, making it one of the most competitive examinations for post-graduation courses.
MAT Tax Full Form:
Minimum Alternate Tax
MAT Tax Full Form is Minimum Alternate Tax. The concept of MAT was first introduced under IT act 1961 in order to charge tax to the ‘zero tax’ companies in India. In other words, MAT makes companies pay a minimum tax. It applies to all companies except the companies that are engaged in power sectors and infrastructure. The companies which make huge profits but are not paying corporate tax have to pay a certain percentage of the profit as Minimum Alternate Tax.
Income that comes from charitable activities, free trade zones, and investments made by the venture capital companies are all excluded from MAT. Nevertheless, companies that belong to other countries but have the source of income from India are also liable to pay MAT. MAT can be adjusted or carried forward under certain conditions but is payable with the 5 years given period.
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