My query with regard to set off of AMT credit u/s.115JD.
What is the consequences of setting off of AMT credit u/s.115JD if there is change in partners of a partnership firm?
For ex.There are 4 partners having equal share in the firm for the first 10 years of business, during this period firm has availed a AMT credit of Rs.10 crore and in 11th year, three old partners got retired and 3 new partners joined the firm.
Will it effect to claim set off of AMT credit u/s.115JD in the 11th year?
Please suggest.
CAclubindia
