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of <h1>Section 115JD amended to limit foreign tax credit for alternate minimum tax calculations</h1> Section 115JD of the Income-tax Act was amended effective April 1, 2018. The amendment introduces a proviso limiting tax credit for foreign taxes paid under sections 90, 90A, or 91 when computing alternate minimum tax credit. Specifically, excess foreign tax credit beyond what is admissible against regular income tax must be ignored. Additionally, the carry-forward period for alternate minimum tax credit was extended from ten to fifteen assessment years, allowing taxpayers additional time to utilize accumulated credits.
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