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[Cites 0, Cited by 0] [Section 206(2)] [Section 206] [Entire Act]

Union of India - Subsection

Section 206(2)(g) in The Income Tax Act, 2025

(g)Tax credit determined under clause (e) shall be carried forward and––
(i)set off in a year, when the regular income tax exceeds the alternate minimum tax; and
(ii)such set off in respect of brought forward tax credit shall be allowed for any tax year to the extent of the excess of regular income tax over the alternate minimum tax for that tax year, and such carry forward shall not be allowed beyond the fifteenth tax year immediately succeeding the tax year in which the tax credit becomes allowable under clause (e).