The Ministry of Corporate Affairs (MCA) has introduced a one-time compliance window titled Companies Compliance Facilitation Scheme, 2026 (CCFS-2026), effective from 15 April 2026 to 15 July 2026.

Minimum Alternate Tax (MAT) was introduced to tax “zero-tax companies” that reported good profits in books but paid little or no income tax due to exemptions and incentives. With the Finance Bill, 2026, MAT itself has been re-engineered. The Government now wants most companies to move to the simpler, concessional corporate tax regime (like 22%/15% rates without exemptions).

Even when normal tax is NIL, MAT can still be payable.

Over the weekend, largely at the urging of Janet Yellen, the Treasury secretary, finance ministers from the Group of 7 — the major...