Which of the following statements are true in context of Minimum...

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Which of the following statements are true in context of Minimum Alternate Tax (MAT)?
(1) MAT is applied when the taxable income calculated according to the I-T Act provisions is found to be less than 15.5% (plus surcharge and cess as applicable) of the book profit under the Companies Act, 2013.
(2) MAT was reduced in September 2019, from 18.5% to 15%.
(3) MAT is levied on book profit, unlike normal corporation tax, which is levied on taxable profit.
(4) No MAT would be imposed on new domestic manufacturing company (incorporated on or after 1^st October 2019).

A. 1, 2 and 3

B. 2, 3 and 4

C. 1, 3 and 4

D. All of the above

Answer: Option D

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