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of <h1>Tax Credit Mechanism Expanded: MAT and AMT Rules Clarify Credit Calculation, Carryforward, and Offset Strategies for Taxpayers</h1> The text analyzes Clause 206(13)-(16) of the Income Tax Bill, 2025, addressing the mechanism for Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) credit. The provisions establish rules for calculating, carrying forward, and setting off tax credits when MAT/AMT paid exceeds regular tax liability. The new clause expands the scope of previous tax regulations, providing a 15-year window for credit utilization while ensuring fairness in tax calculations across different types of taxpayers and maintaining revenue protection principles.
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