https://www.taxtmi.com/article/detailed?id=1180 Finance Bill, 2011 inserts Chapter XII-BA to tax LLPs by imposing Alternate Minimum Tax on an Adjusted Total Income basis: total income for regular tax is increased by deductions under Chapter VI-A and section 10AA to arrive at Adjusted Total Income on which AMT is computed. AMT paid in excess of regular income tax can be carried forward and set off for up to ten assessment years; no refund of excess AMT is available. en-us Thu, 03 Mar 2011 21:56:58 +0530 Thu, 03 Mar 2011 21:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1180 Finance Bill, 2011 inserts Chapter XII-BA to tax LLPs by imposing Alternate Minimum Tax on an Adjusted Total Income basis: total income for regular tax is increased by deductions under Chapter VI-A and section 10AA to arrive at Adjusted Total Income on which AMT is computed. AMT paid in excess of regular income tax can be carried forward and set off for up to ten assessment years; no refund of excess AMT is available. Articles Limited Liability Partnership - LLP Thu, 03 Mar 2011 21:56:58 +0530 https://www.taxtmi.com/article/detailed?id=1180