Itr 2 & itr 4
This query is : Resolved
22 July 2013
As per Finance Act and for A.Y.2013-14, AMT (Alternate Minimum Tax) is applicable when the income is above Rs.20,00,000/=
1)If the income above Rs.20,00,000/= is filed using ITR Form 2, then tax is calculated at normal rates. But if it is filed under ITR Form 4, then AMT is calculated and the tax is calculated at higher rate
Why is such difference when the income is above Rs.20,00,000/= (As in any case, AMT is applicable)
1)If the income above Rs.20,00,000/= is filed using ITR Form 2, then tax is calculated at normal rates. But if it is filed under ITR Form 4, then AMT is calculated and the tax is calculated at higher rate
Why is such difference when the income is above Rs.20,00,000/= (As in any case, AMT is applicable)
23 July 2013
For detail discussion refer below link---
https://www.caclubindia.com/experts/alternate-minimum-tax-1374939.asp
https://www.caclubindia.com/experts/alternate-minimum-tax-1374939.asp
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