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of <h1>Tax credit for alternate minimum tax available for fifteen years under Section 115JD with carry forward provisions</h1> Section 115JD of the Income Tax Act, 1961 provides tax credit for alternate minimum tax paid by persons other than companies. The credit equals excess alternate minimum tax over regular income tax for that year. Credits can be carried forward for fifteen assessment years and set off when regular tax exceeds alternate minimum tax. No interest is payable on such credits. The provision excludes persons who have opted for new tax regimes under sections 115BAC, 115BAD, or 115BAE. Credit adjustments follow any subsequent tax reassessments.
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