CBDT - The following rules further to amend the Income-tax Rules, 1962, Insertion of rule 40BA and Form No. 29C (Income-tax (9th Amendment) Rules, 2011) - 60/2011 - Income Tax

Alternate minimum tax compliance: certified accountant report in prescribed form required for LLPs to compute adjusted total income and AMT.

Rule 40BA and Form No.29C require a certified accountant's report from eligible auditors for limited liability partnerships to compute adjusted total income and alternate minimum tax; the report must certify computations in accordance with the Income tax Act chapter, rely on details in Annexure A, and declare the particulars true and correct, with Annexure A listing assessee identification, pre adjustment total income, applicable deductions, adjusted total income and the alternate minimum tax computation.