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of <h1>Income Tax Bill 2025: Clause 206 Details MAT and AMT Provisions, Computation Methods, and Tax Credit Carry Forwards.</h1> Clause 206 of the Income Tax Bill, 2025, outlines the provisions for minimum alternate tax (MAT) and alternate minimum tax (AMT). It mandates that if an assessee's income tax payable is less than a specified percentage of book profit or adjusted total income, then the book profit or adjusted total income will be deemed as total income, and tax will be applied at the specified rate. The clause details various scenarios and adjustments for different types of entities, including companies, units in International Financial Services Centres, and co-operative societies, among others. It also specifies the computation method for book profits, exceptions, and provisions for carrying forward tax credits.
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