https://www.taxtmi.com/article/detailed?id=5512 Alternate Minimum Tax applies where regular income-tax payable is less than tax computed on adjusted total income, which is total income increased by deductions claimed under Chapter VI-A (except section 80P) and section 10AA. Taxpayers claiming those deductions must file a prescribed accountant's report. Excess AMT over regular tax generates a carryforward tax credit usable in later years within the statutory limit, with no interest on the credit and adjustments made for assessment variations. en-us Thu, 06 Mar 2014 14:30:49 +0530 Thu, 06 Mar 2014 14:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5512 Alternate Minimum Tax applies where regular income-tax payable is less than tax computed on adjusted total income, which is total income increased by deductions claimed under Chapter VI-A (except section 80P) and section 10AA. Taxpayers claiming those deductions must file a prescribed accountant's report. Excess AMT over regular tax generates a carryforward tax credit usable in later years within the statutory limit, with no interest on the credit and adjustments made for assessment variations. Articles Income Tax Thu, 06 Mar 2014 14:30:49 +0530 https://www.taxtmi.com/article/detailed?id=5512