Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Alternate minimum tax reporting requires Form 29C certification of adjusted total income and tax computation under section 115JC. Rule 40BA prescribes that the accountant's report required under section 115JC(3) must be furnished in Form No. 29C for persons other than a company. Form No. 29C is used to certify the computation of adjusted total income and alternate minimum tax under Chapter XII-BA, and its annexure requires details of the assessee, total income before Chapter XII-BA, deductions claimed, adjusted total income, and alternate minimum tax. Where any statement in the report is negative or qualified, reasons must be stated.
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Provisions expressly mentioned in the judgment/order text.
Alternate minimum tax reporting requires Form 29C certification of adjusted total income and tax computation under section 115JC.
Rule 40BA prescribes that the accountant's report required under section 115JC(3) must be furnished in Form No. 29C for persons other than a company. Form No. 29C is used to certify the computation of adjusted total income and alternate minimum tax under Chapter XII-BA, and its annexure requires details of the assessee, total income before Chapter XII-BA, deductions claimed, adjusted total income, and alternate minimum tax. Where any statement in the report is negative or qualified, reasons must be stated.
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