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            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.

            <h1>Local authority income tax rates and Alternate Minimum Tax applicability outlined, including IFSC concession for CFE-derived income.</h1> Rate of income tax for local authorities is thirty percent on total income and is subject to an Alternate Minimum Tax (AMT) computed on book profit or adjusted total income where deductions under sections 80H-80RRB (excluding 80P), 35AD, and 10AA are claimed; IFSC-located units deriving income solely from convertible foreign exchange may pay AMT at a concessional rate. Surcharge applies above the statutory threshold with marginal relief, and health and education cess (or earlier education cesses) is added on income tax plus surcharge.

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