Form No. 29C - Report under section 115JC of the Income-tax Act, 1961 for computing adjusted total income and alternate minimum tax of the limited liability partnership
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Alternate Minimum Tax computation requires adjusted total income with specified deductions and certified computation by a qualified accountant. The form mandates a certificate by a qualified accountant or authorised auditor certifying that adjusted total income and alternate minimum tax have been computed in accordance with Chapter XII-BA. Annexure A must list assessee identification, assessment year, total income before Chapter XII-BA, income-tax on that total, deductions under Chapter VI-A (excluding certain items) and deductions under section 10AA. Adjusted total income equals the pre-Chapter XII-BA total plus the specified deductions, and the alternate minimum tax is computed as a prescribed proportion of that adjusted total income.
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 computation requires adjusted total income with specified deductions and certified computation by a qualified accountant.
The form mandates a certificate by a qualified accountant or authorised auditor certifying that adjusted total income and alternate minimum tax have been computed in accordance with Chapter XII-BA. Annexure A must list assessee identification, assessment year, total income before Chapter XII-BA, income-tax on that total, deductions under Chapter VI-A (excluding certain items) and deductions under section 10AA. Adjusted total income equals the pre-Chapter XII-BA total plus the specified deductions, and the alternate minimum tax is computed as a prescribed proportion of that adjusted total income.
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