Applicablity of alternate minimum tax

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Vinita Talreja (Querist)
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12 November 2013 Whether AMT is applicable to a person having Salary Income, House Property & Income from Other Sources as the total income exceeds Rs. 20 Lakhs i.e Total income is Rs.32,58,771

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 November 2013 AMT is not effectively applicable to a person having income under the 3 heads mentioned by you.
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Vinita Talreja

Vinita Talreja (Querist)
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13 November 2013 Thank you sir for guidance
but sir then it means AMT is applicable to a person if he had business income compulsory?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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13 November 2013 If you Read sub-section (2) of Section 115JC, you can easily confirm that what you are deducing is correct.
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