Is AMT applicable on LLP firm?

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1244 Points Posted on 16 February 2022
Hi Team

Is AMT applicable for LLP firms?
If yes, then is it compulsory to file Form 29C in income tax return?

Thanks.
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On 16 February 2022 at 16:38 Report
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Quick Summary
This discussion clarifies whether the Alternative Minimum Tax (AMT) applies to Limited Liability Partnerships (LLPs). It confirms that AMT is indeed applicable to LLPs under Section 115JC of the Income Tax Act. Furthermore, it addresses the requirement to file Form 29C with the income tax return, even if the LLP's income is less than 20 lakh.

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403 Points Posted on 17 February 2022
Yes. AMT is applicable for LLPs u/s 115JC. Form 29C also required to be filed
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On 17 February 2022 at 10:24
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1244 Points Posted on 17 February 2022
Ok but income less than 20 lac?
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On 17 February 2022 at 18:09

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