person, other than a company, is less than the alternate minimum tax payable for such previous year, the adjusted total income shall be deemed ... from an accountant, certifying that the adjusted total income and the alternate minimum tax have been computed in accordance with the provisions of this Chapter
Section 115JD in The Income Tax Act, 1961
115JD. Tax credit for alternate minimum tax.
(1) The credit for tax paid by [a person under ... minimum tax, the tax credit shall be allowed to be set off to the extent of the excess of regular income-tax over the alternate
tax credit under Section 115JAA is nothing but credit for tax
paid under Section 115JA of the Act. Minimum alternate tax
credit is granted ... tax" as appearing in Section 140A would have
reference to the tax payable on the basis of the returns minus
the minimum alternate tax
compared to
Minimum Alternate Tax and therefore the Tax was
paid by the Appellant as a whole under Minimum
Alternate Tax method.
(j) Evidently ... sales tax, service tax, value-
added tax, commodity transaction tax and securities
transaction tax among others
One such indirect tax is the minimum alternate tax
clause (b), the following clause shall be substituted, namely: - `(b) "alternate minimum tax" means the amount of tax computed on adjusted total income
person, other than a company, is less than the alternate minimum tax payable for such previous year, the adjusted total income shall be deemed ... from an accountant, certifying that the adjusted total income and the alternate minimum tax have been computed in accordance with the provisions of this Chapter
Amalgamation in Clause 7.1 (iv)
indicates that the tax deducted at source (TDS)/advance tax/minimum
alternate tax, if any, paid by the Transferor Company ... tax deducted from/advance tax paid by the
Transferee Company and credit for such
TDS/advance tax/minimum alternate tax shall be
allowed
Income Tax Act, 1961 by wrongfully applying provisions of
section 208 of the Income Tax Act, 1961 for depositing
Alternative Minimum Tax (AMT) as self ... alternative minimum tax as per scheme of advance tax u/s
208. The Ld. AR has contended that the provisions of advance tax
restricting the tax paid during the Financial Year
2012-13 to Minimum Alternate Tax;
(b) Pass such further Order or Orders as this ... excess paid tax of Rs.67.05 Crores
out of the total tax amounting to Rs.410.03 Crores calculated under
Minimum Alternate Tax
whilst calculating book profits for the
purposes of Minimum Alternate Tax (MAT) under the provisions of Section
115 JB of the Act.
2. Without prejudice ... achieved this goal have been assured with a lower burden of minimum alternate tax. If the
intention of the legislation is to exclude the income
