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of <h1>AMT Credit Under Section 115JD: No Foreign Tax Credits, 15-Year Carry Forward, Changes for New Tax Schemes in 2024.</h1> The Alternate Minimum Tax (AMT) under Section 115JD provides a tax credit for AMT paid beyond regular income tax, which can be used against future tax liabilities. This credit, however, does not include excess tax credits from foreign income tax paid under sections 90, 90A, or 91. The credit can be carried forward for 15 years, and no interest is payable on it. Adjustments to the credit are made if tax amounts change due to orders under the Act. From April 1, 2024, these provisions do not apply to individuals opting for tax schemes under sections 115BAC(5), 115BAD(5), or 115BAE(5).
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