Alternate minimum tax credit exclusion for taxpayers opting under specified tax options now applies prospectively from the stated assessment year. The amendment inserts a new subsection excluding from section 115JD any person who has exercised the option referred to in section 115BAC or section 115BAD; this exclusion is effective from 1 April 2021 and applies to the assessment year beginning on that date and subsequent assessment years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Alternate minimum tax credit exclusion for taxpayers opting under specified tax options now applies prospectively from the stated assessment year.
The amendment inserts a new subsection excluding from section 115JD any person who has exercised the option referred to in section 115BAC or section 115BAD; this exclusion is effective from 1 April 2021 and applies to the assessment year beginning on that date and subsequent assessment years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.