WebSection 115JAA of IT Act 1961-2024 provides for tax credit in respect of tax paid on deemed income relating to certain companies. Recently, we have discussed in detail section 115JA (Deemed income relating to certain companies) of IT Act 1961. Today, we learn the provisions of section 115JAA of Income-tax Act 1961. Web(1) Notwithstanding anything contained in this Act, where the regular income-tax payable for a previous year by a person, other than a company, is less than the alternate minimum tax payable for such previous year, the adjusted total income shall be deemed to be the total income of that person for such previous year and he shall be liable to pay …
Self Assessment Tax & Additional Income Tax: Updated Return u/s …
Web(2) Nothing contained in sub-section (1) shall affect the determination of the amounts in relation to the relevant previous year to be carried forward to the subsequent year or years under the provisions of sub-section (2) of section 32 or sub-section (3) of section 32A or clause (ii) of sub-section (1) of section 72 or section 73 or section 74 ... WebMar 1, 2024 · 115JD. (1) The credit for tax paid by a person under section 115JC shall be allowed to him in accordance with the provisions of this section. (2) The tax credit of an assessment year to be allowed under sub-section (1) shall be the excess of alternate minimum tax paid over the regular income-tax payable of that year. shutter card holder
Insertion of new section 140B - incometaxindia.gov.in
WebSection - 115JB. Special provision for payment of tax by certain companies. 7 Record (s) Page [1 of 1] in 0.046 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. … WebSection - 115JC. Special provisions for payment of tax by certain persons other than a company. 6 Record (s) Page [1 of 1] in 0.031 seconds. TAX INFORMATION AND … WebJun 23, 2024 · Steps involving calculation of Tax where Alternate Minimum Tax provisions applies: Step 1: Calculate the regular Income-tax liability of the non-corporate assessee … shutter cameras