Llp and mat u/s 115jb

Swati ji,

LLPs are covered under provisions of section 115JC and not u/s 115JB.

LLPs shall be subject to alternate minimum tax  @ 18.5 percent on the adjusted total income as per the income tax provisions as against book profit in case of AMT (Alternate Minimum Tax).

The new tax named alternate minimum tax shall be levied w.e.f.  1 April 2011 and thus shall apply to A.Y. 2012-13 and in subsequent years.

Originally posted by : Ketan Waghela
	Swati ji, LLPs are covered under provisions of section 115JC and not u/s 115JB.   LLPs shall be subject to alternate minimum tax  @ 18.5 percent on the adjusted total income as per the income tax provisions as against book profit in case of AMT (Alternate Minimum Tax).   The new tax named alternate minimum tax shall be levied w.e.f.  1 April 2011 and thus shall apply to A.Y. 2012-13 and in subsequent years.

totally agreed with Mr Ketan.... and thank you to Mr ketan

thank you for the information.

well, one more thing?

is there any difference in the provisions realting to the computation of book profits of the LLP from those used in computing thr book profits of company assessee?

In case of LLP, the term "Book Profit" is replaced with "Adjusted Total Income".