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of <h1>Tax Credit Mechanism Allows Carry Forward of Excess MAT/AMT Payments for Up to 15 Years Under New Income Tax Bill Provisions</h1> Legal Analysis Summary:The document examines Clause 206(13)-(16) of the Income Tax Bill, 2025, addressing the mechanism for tax credit when Minimum Alternate Tax (MAT) or Alternate Minimum Tax (AMT) exceeds regular tax liability. The provisions allow taxpayers to carry forward excess tax paid for up to fifteen years, enabling set-off against future tax liabilities. The clause ensures equitable treatment by providing a credit mechanism that prevents MAT/AMT from becoming a permanent additional tax burden while maintaining tax base integrity. The provisions apply broadly to various assessees, modernizing the existing tax credit framework.
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