https://www.taxtmi.com/acts?id=53834 Section 206 is amended to revise the conditions and mechanics for carried-forward tax credit under the alternative tax regime. The amendment substitutes the rate in one provision from 15% to 14%, omits specified clauses, and introduces separate rules for domestic companies and foreign companies. Domestic companies may set off brought-forward credit up to 25% of tax payable, subject to a 15-year limit and corresponding adjustments if tax payable changes, while foreign companies may set off credit only to the extent of the difference between tax liability under the Act and minimum alternate tax, also subject to the same limit. en-us Tue, 31 Mar 2026 15:35:02 +0530 Tue, 31 Mar 2026 15:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53834 Section 206 is amended to revise the conditions and mechanics for carried-forward tax credit under the alternative tax regime. The amendment substitutes the rate in one provision from 15% to 14%, omits specified clauses, and introduces separate rules for domestic companies and foreign companies. Domestic companies may set off brought-forward credit up to 25% of tax payable, subject to a 15-year limit and corresponding adjustments if tax payable changes, while foreign companies may set off credit only to the extent of the difference between tax liability under the Act and minimum alternate tax, also subject to the same limit. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:35:02 +0530 https://www.taxtmi.com/acts?id=53834