If an assessee Mr.X has Income from business Rs.25,00,000/- as per Income Tax Act in current year and has brought forward loss of Rs.30,00,000/-. Is he liable to pay AMT even though he has losses to set-off ???
Second Doubt,
Whether assessee Mr.X is covered under AMT, even if he has not claimed deduction under Chp VIA heading 'C' and his Income from Business is Rs.24,00,000/- as per I.Tax ???
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