https://www.taxtmi.com/highlights?id=104736 Minimum alternate tax does not apply to a banking company governed by the Banking Regulation Act, 1949. Leave-salary or leave-encashment liability may accrue under mercantile accounting, but its deduction is deferred until actual payment; an unpaid provision is not deductible. An uninterrupted power supply used solely to support a computer system, without evidence of independent use, forms an integral part of that system and qualifies for depreciation at the computer-equipment rate. The tax treatment therefore excludes regulated banking companies from minimum alternate tax and allows the higher computer-equipment depreciation rate, while denying deduction for unpaid leave-encashment provisions. en-us Fri, 09 Oct 2026 11:16:30 +0530 Fri, 09 Oct 2026 11:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104736 Minimum alternate tax does not apply to a banking company governed by the Banking Regulation Act, 1949. Leave-salary or leave-encashment liability may accrue under mercantile accounting, but its deduction is deferred until actual payment; an unpaid provision is not deductible. An uninterrupted power supply used solely to support a computer system, without evidence of independent use, forms an integral part of that system and qualifies for depreciation at the computer-equipment rate. The tax treatment therefore excludes regulated banking companies from minimum alternate tax and allows the higher computer-equipment depreciation rate, while denying deduction for unpaid leave-encashment provisions. Highlights Income Tax Fri, 09 Oct 2026 11:16:30 +0530 https://www.taxtmi.com/highlights?id=104736