MAT stands for Minimum Alternate Tax. The concept of MAT was introduced and applicable for companies, where AMT is applicable for all other taxpayers.

As per Section 115JB of Income Tax Act, every company being a taxpayer is liable to pay MAT, if the Income Tax Payable (including cess and surcharge) on total income, computed as per Income Tax Act of any year is less than 18.50% of its book profits + surcharge + cess.

From the above it can be observed that the provisions of MAT are applicable to every company whether public or private and whether Indian or foreign.