Tax credit for corporate minimum alternate tax allowed for payments under the minimum tax provision, enabling set-off in later assessment years. A new sub section (1A) permits a company that pays tax under the minimum tax provision for assessment years from 1 April 2006 to receive credit for such tax in accordance with the section, and subsection (2) is amended to extend its references to cover tax paid under either the prior provision or the minimum tax provision to ensure consistent credit treatment.