Minimum alternate tax rate increased and SEZ exemption removed, altering deemed book-profit taxation from the specified assessment year onward. The amendment raises the threshold and payable rate for the deemed-book-profit corporate tax mechanism and moves its effective assessment-year forward by one year, while inserting a proviso that the non-application of the deemed-book-profit regime to Special Economic Zone units and developers shall cease to have effect for previous years relevant to assessment years commencing on or after the revised effective date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Minimum alternate tax rate increased and SEZ exemption removed, altering deemed book-profit taxation from the specified assessment year onward.
The amendment raises the threshold and payable rate for the deemed-book-profit corporate tax mechanism and moves its effective assessment-year forward by one year, while inserting a proviso that the non-application of the deemed-book-profit regime to Special Economic Zone units and developers shall cease to have effect for previous years relevant to assessment years commencing on or after the revised effective date.
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