Applicablity of alternate minimum tax
This query is : Resolved
12 November 2013
Whether AMT is applicable to a person having Salary Income, House Property & Income from Other Sources as the total income exceeds Rs. 20 Lakhs i.e Total income is Rs.32,58,771
12 November 2013
AMT is not effectively applicable to a person having income under the 3 heads mentioned by you.
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13 November 2013
Thank you sir for guidance
but sir then it means AMT is applicable to a person if he had business income compulsory?
but sir then it means AMT is applicable to a person if he had business income compulsory?
13 November 2013
If you Read sub-section (2) of Section 115JC, you can easily confirm that what you are deducing is correct.
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