Interpretation of Chapter XII-BA clarified: LLP definition removed and 'person' replaces LLP as taxable entity under AMT rules. Amendment to section 115JF omits the definition of Limited Liability Partnership and substitutes the phrase "a person on his total income" for "a limited ... Summary
Interpretation of Chapter XII-BA clarified: LLP definition removed and 'person' replaces LLP as taxable entity under AMT rules.
Amendment to section 115JF omits the definition of Limited Liability Partnership and substitutes the phrase "a person on his total income" for "a limited liability partnership on its total income" in clause (d), effective 1 April 2013 and applicable to the 2013-2014 assessment year and thereafter.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.