Amt
This query is : Resolved
09 September 2014
When is AMT applicable and for whom?
09 September 2014
Alternative minimum tax (AMT) Covered under section 115 JC , 115 JD , 115 JE 115 EE , 115 JF and chapter XII- BA.
AMT applicable to person defined u/s 2(31) other than Company
AMT Applies to-
i) Person other than company who claimed any deduction u/s 80H to 80 TT except 80 P and u/s 10 AA
ii) Chapter XII- BA not applicable where adjusted total income * less than or equal to Rs. 20,00,000/- for Individual , HUF, AOP, BOI ,AJP
Where AMT applicable assessee shall get report in the form 29C from Chartered Accountant .
AMT applicable to person defined u/s 2(31) other than Company
AMT Applies to-
i) Person other than company who claimed any deduction u/s 80H to 80 TT except 80 P and u/s 10 AA
ii) Chapter XII- BA not applicable where adjusted total income * less than or equal to Rs. 20,00,000/- for Individual , HUF, AOP, BOI ,AJP
Where AMT applicable assessee shall get report in the form 29C from Chartered Accountant .
10 September 2014
Yes agreed with above reply..........
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