Get News Alerts from Taxmann.com on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session
 
Skip Navigation Links
Dr. Vinok K. Singhania on the Income-tax Act, 1961
  • AMT credit quantum in the year when AMT not applicable

    by SURESH on Friday, August 25, 2017 at 01:13 PM

    Brought forward AMT CREDIT 5 lakh. AY2017-18 income 20 lakh from regular sources. Tax payable 6 lakh. No AMT attracted. No deductions claimed. The query: Whether full credit of 5 lakh of AMT against regular Tax of 6 lakh and Net Tax payable 1 lakh OR Though No liability of AMT, whether to calculate AMT notionally and adjust AMT credit 2.40 lakh and land up paying TAX of Rs 3.60 lakh equal to AMT.

    Replied by

 
taxmann.com
Payment
Best view in 1140 x 768