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 ... Summary
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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