Alternate Minimum Tax reporting requires an accountant's specified form to compute adjusted total income under Chapter XII BA. The rules substitute Rule 40BA to require that the accountant's report under section 115JC(3) for persons other than a company be furnished in Form No. 29C, certifying that adjusted total income and Alternate Minimum Tax have been computed in accordance with Chapter XII BA. Form No. 29C requires the accountant to declare examination of accounts, certify computations based on Annexure A, provide identifying and professional details, and state reasons for any negative or qualified answers; Annexure A specifies the data fields used to compute adjusted total income and AMT.
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Alternate Minimum Tax reporting requires an accountant's specified form to compute adjusted total income under Chapter XII BA.
The rules substitute Rule 40BA to require that the accountant's report under section 115JC(3) for persons other than a company be furnished in Form No. 29C, certifying that adjusted total income and Alternate Minimum Tax have been computed in accordance with Chapter XII BA. Form No. 29C requires the accountant to declare examination of accounts, certify computations based on Annexure A, provide identifying and professional details, and state reasons for any negative or qualified answers; Annexure A specifies the data fields used to compute adjusted total income and AMT.
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