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of <h1>Understanding Adjusted Total Income: Section 115JC(2) and Alternate Minimum Tax Rules for Specific Deductions</h1> Adjusted Total Income under Section 115JC(2) involves computing total income as per normal tax provisions, then adding back specific deductions. These include deductions under Chapter VI-A (except Section 80P), Section 10AA for SEZ profits, and Section 35AD (after reducing allowable depreciation). Alternate Minimum Tax (AMT) applies to those claiming deductions under Sections 80-IA to 80RRB and 10AA, but not 80P. Assessees claiming Section 35AD deductions must pay AMT but can claim depreciation on relevant assets. Deductions under Sections 80C to 80GGC and 80U are excluded from the AMT calculation.
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