Sponsored
    Follow Us:

Alternate Minimum Tax

Latest Articles


Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT)

Income Tax : MAT stands for Minimum Alternate Tax and AMT stands for Alternate Minimum Tax. Initially the concept of MAT was introduced for com...

June 3, 2022 101387 Views 5 comments Print

AMT rate for co-operative societies proposed to reduce to 15%

Income Tax : Rationalization of provisions of the Act to promote the growth of co-operative societies Section 115JC of the Act, inter alia, pro...

February 1, 2022 3009 Views 0 comment Print

Alternate Minimum Tax – Applicability, Provisions & Calculation

Income Tax : MEANING: Alternate Minimum Tax or AMT was came into existence for non-corporate taxpayers who works on same principles. Though, ap...

November 1, 2021 39153 Views 0 comment Print

Alternate Tax Regime for Individuals u/s 115BAC from AY 2021-22

Income Tax : Disclaimer: Before start reading, we would like to clear the fact that this write up is only meant for salaried class employees an...

January 25, 2021 22101 Views 0 comment Print

All about Alternate Minimum Tax

Income Tax : Where the regular Income Tax payable for a Previous Year by a person (other than a company) is less than the Alternate Minimum Tax...

June 23, 2020 66119 Views 0 comment Print


Latest News


Co-Operatives To Pay AMT and Surcharge at Reduced Rate

Income Tax : The Government, in order to provide a level playing field between co-operative societies and companies proposes to reduce the Alte...

February 1, 2022 867 Views 0 comment Print


Latest Judiciary


Indexed cost of acquisition can be reduced to compute book profits U/s. 115JB

Income Tax : The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits ...

August 26, 2020 2562 Views 0 comment Print


Latest Posts in Alternate Minimum Tax

Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT)

June 3, 2022 101387 Views 5 comments Print

MAT stands for Minimum Alternate Tax and AMT stands for Alternate Minimum Tax. Initially the concept of MAT was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT. In this part you can gain knowledge about various provisions relating to MAT and AMT. First of all we will understand the provisions of MAT and thereafter the provisions of AMT.

AMT rate for co-operative societies proposed to reduce to 15%

February 1, 2022 3009 Views 0 comment Print

Rationalization of provisions of the Act to promote the growth of co-operative societies Section 115JC of the Act, inter alia, provides for the alternate minimum tax (AMT) payable by co-operative societies, which is at the rate of 18.5%. However, vide the Taxation Laws (Amendment) Act, 2019, the Minimum Alternate Tax (MAT) rate for companies has […]

Co-Operatives To Pay AMT and Surcharge at Reduced Rate

February 1, 2022 867 Views 0 comment Print

The Government, in order to provide a level playing field between co-operative societies and companies proposes to reduce the Alternate Minimum Tax rate for co-operative societies to 15 per cent from the current 18.5 per cent announced the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today.

Alternate Minimum Tax – Applicability, Provisions & Calculation

November 1, 2021 39153 Views 0 comment Print

MEANING: Alternate Minimum Tax or AMT was came into existence for non-corporate taxpayers who works on same principles. Though, applicability, exemption, way of adjusting income and reporting requirement etc. differ from Minimum Alternate Tax. BASICS: As the name suggests, Alternate Minimum Tax is a minimum tax which is imposed on alternative to normal tax. AMT […]

Alternate Tax Regime for Individuals u/s 115BAC from AY 2021-22

January 25, 2021 22101 Views 0 comment Print

Disclaimer: Before start reading, we would like to clear the fact that this write up is only meant for salaried class employees and not meant for individuals having business Income. As there are some differences in the scheme for the salaried and non-salaried class of persons. Little Background The date of submission of investment proof […]

Indexed cost of acquisition can be reduced to compute book profits U/s. 115JB

August 26, 2020 2562 Views 0 comment Print

The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits under Section 115JB of the Act?

All about Alternate Minimum Tax

June 23, 2020 66119 Views 0 comment Print

Where the regular Income Tax payable for a Previous Year by a person (other than a company) is less than the Alternate Minimum Tax payable for such Previous Year, the Adjusted Total Income shall be deemed to be the total income of such person and he shall be liable to pay Income-tax on such Total Income at the rate of 18.5% [Section 115JC(1)]

AMT Provisions under Income Tax Act 1961 (AY 2020-21)

January 19, 2020 256797 Views 8 comments Print

Article explains what is Alternate Minimum Tax (AMT), When to Apply AMT and its rate , Need  For AMT, Applicability of Alternate Minimum Tax (AMT), Non Applicability of Alternate Minimum Tax (AMT), Rate of AMT, Credit & carry Forward of AMT, Some Key Points related to AMT  and calculation of AMT with the help of example.

Sponsored
Sponsored
Search Post by Date
November 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930