Alternate minimum tax applicability limited where taxpayers opt for specified concessional regimes or have tax computed under special method. The amendment substitutes the non-application clause of the Alternate Minimum Tax provision to provide that the provision does not apply to a person who has exercised the option to be governed by specified concessional tax regimes, or where the person's income-tax is computed under the special statutory computation method, thereby establishing explicit non-applicability criteria linked to taxpayer elections and tax computation method.
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 applicability limited where taxpayers opt for specified concessional regimes or have tax computed under special method.
The amendment substitutes the non-application clause of the Alternate Minimum Tax provision to provide that the provision does not apply to a person who has exercised the option to be governed by specified concessional tax regimes, or where the person's income-tax is computed under the special statutory computation method, thereby establishing explicit non-applicability criteria linked to taxpayer elections and tax computation method.
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