Amt

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vikash choudhary

vikash choudhary (Querist)
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09 September 2014 When is AMT applicable and for whom?

CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
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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 .