Alternate minimum tax (amt)

This query is : Resolved

heena (Querist)
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13 April 2015 Pls clear my doubt,

First doubt, 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 ???

Aditya Maheshwari

Aditya Maheshwari (Expert)
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13 April 2015 First doubt MAT not applicable as for the purpose of computation of MAT for individuals Deduction Claimed under any section included in Chapter VI-A under the heading C and Deduction Claimed u/s 10AA is added to total income.
Second answer is also no.

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