Reducing tax avoidance by curbing the excessive use of deductions and exemptions by corporate and select non-corporate entities : Clause 206(18) of the Income Tax Bill, 2025 Vs. Section 115JEE of the Income-tax Act, 1961
7 May, 2025
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Minimum alternate tax exclusions: narrow MAT/AMT to specified taxpayers including life insurers, alternative regime opters, presumptive and small taxpayers. Clause 206(18) narrows MAT/AMT applicability by exempting companies with life insurance income, taxpayers who opt for specified alternative tax regimes, ... Summary
Minimum alternate tax exclusions: narrow MAT/AMT to specified taxpayers including life insurers, alternative regime opters, presumptive and small taxpayers.
Clause 206(18) narrows MAT/AMT applicability by exempting companies with life insurance income, taxpayers who opt for specified alternative tax regimes, persons taxed under special or presumptive computation sections, specified funds identified in the Schedule, and non corporate persons whose adjusted total income falls below the statutory threshold; the exclusions reflect sectoral accounting differences, aim to promote concessional regimes and financial competitiveness, and reduce compliance burdens while requiring clear definitions and anti abuse safeguards.
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