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of <h1>Section 115JC mandates 18.5% alternate minimum tax when regular tax falls short for non-company entities</h1> Section 115JC establishes alternate minimum tax provisions for non-company entities under the Income Tax Act, 1961. When regular income tax is less than alternate minimum tax, the adjusted total income becomes taxable at 18.5% rate. Adjusted total income includes deductions under Chapter VI-A, section 10AA, and section 35AD. Reduced rates apply to International Financial Services Centre units (9%) and cooperative societies (15%). Entities must obtain accountant certification reports. Provisions exclude persons opting for sections 115BAC, 115BAD, or 115BAE tax regimes.
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