Alternate minimum tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2013
M/s.XYZ partnership firm has sales Rs.3500000 in AY 2013-14 and net income Rs. 400000 whether Section 115JEE (Alternate Minimum Tax) applicable to firm ?. if firm apply section 44AD than section 115JEE applicable of not ?
01 July 2013
AMT applicable when firm gets deductions or exempted income under the IT Provisions.
.
As the firm is liable to pay tax on its profits by adopting 44AD, AMT will not be levied.
.
.
As the firm is liable to pay tax on its profits by adopting 44AD, AMT will not be levied.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Putting a heading on received mail
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
