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of <h1>Finance Bill 2023 amends Income-tax Act, section 115JD; impacts alternate minimum tax credits from April 2024.</h1> Clause 56 of the Finance Bill, 2023, amends section 115JD of the Income-tax Act, effective April 1, 2024. The amendment replaces sub-section (7), specifying that section 115JD will not apply to individuals who opt for provisions under sub-section (5) of sections 115BAC, 115BAD, or 115BAE, or if their income tax is calculated under sub-section (1A) of section 115BAC. This change impacts the assessment year 2024-2025 and subsequent years, altering the applicability of tax credits for alternate minimum tax for these individuals.
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