Amt for individuals

Save Share

This query is : Open

TARUN PRATAP GARG (Querist)

25 March 2013 Sir,
my query is about the applicability of Alternate Minimum Tax on Individuals & HUF.
is it applicable on above if yes then kindly give me the complete clarification on Such above matter and also give the Circular OR Notification no. link for Verification.

Thanks

NEHA SARAF (Mcom, CA , CS)

NEHA SARAF (Mcom, CA , CS) (Expert)

25 March 2013 No Applicable to Individual and HUF

TARUN PRATAP GARG

TARUN PRATAP GARG (Querist)

25 March 2013 But mam when i was trying to fedd the dta of an individual in computax for A.y. 2013-14, its showing the Applicablity criteria of AMT.
Kindly Specify and duscharge the qyery.

thanx

Rahul Sharma

Rahul Sharma (Expert)

26 March 2013 as per finance act,2011 AMT applicable on llp only, now as per finance act,2012 AMT is applicable on all assessee except companies.

not applicable on companies because MAT is appicable on companies.

Rahul Sharma

Rahul Sharma (Expert)

26 March 2013 you are right that A/Y 2013-14 data showing the applicable criteria of AMT because from A/Y 2013-14 it is applicable on individual & huf also. according to finance act,2012

TARUN PRATAP GARG

TARUN PRATAP GARG (Querist)

01 July 2013 thanx bro but i need the related circular or notification released for it.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now