If an assessee has brought forward credit of AMT of Rs. 100 and in FY 2018-19, no AMT is applicable to the assessee. Tax payable as per normal provisions is Rs. 20. How much credit can be utilised to pay tax.
1 Replies
Gauthami
(Student CA Final )
(431 Points)
Replied 17 June 2019
no amt credit can be used to pay tax as per income tax provisions unless amt is applicable and such amt credit can be carried forward for 10 A.Y
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