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Amt application and limit

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30 August 2013 In case of Individual AMT applicable where adjusted GTI exceed rs. 20 lacs. whether in case of Firm the same limit is applicable?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
30 August 2013 No such limit in case of Firms/LLP. In case of individuals, HUF, AOP, BOI & artificial juridical person Alternate Minimum Tax applies only when the adjusted total income for the year exceeds Rs.20 lakhs.

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