Alternate Minimum Tax (AMT) rules under Section 115JEE and 115JC for specified persons explained

Specified persons other than companies are subject to Alternate Minimum Tax (AMT) under section 115JEE when their adjusted total income exceeds prescribed thresholds, which have varied from Rs. 20 to Rs. 25 lakhs across assessment years 2012-13 to 2026-27. The AMT is calculated at 18.5% of book profit under section 115JC, with exceptions including a reduced rate of 9% for units located in International Financial Services Centres and 15% for cooperative societies. Additional charges include applicable surcharge based on regular tax slabs and health and education cess, typically 4% of income tax, though earlier years applied education cess and secondary and higher education cess separately. The adjusted total income and related terms are defined under sections 115JC(2) and 115JF. The AMT provisions ensure minimum tax liability for non-corporate specified persons despite exemptions or deductions under regular income tax laws.