TMI BlogAlternate Minimum Tax [AMT] Applicable to Persons other than a Company - A.Y. 2012-13 to A.Y. 2023-24X X X X Extracts X X X X X X X X Extracts X X X X ..... on: 9% in case of unit - U/s 115JC (4 ) 15% in case of Co-Operative Society. Notes: Note 1: - Add Surcharge - For rates see the Regular Tax slabs for each type of assessee Note 2: - Add Health and Education Cess - 4% of Income Tax =========================== Alternate Minimum Tax for the Assessment Year 2022-23 Assessee Rate of Minimum Alternate Tax Specified persons u/s 115JEE where adjusted total income exceeds ₹ 20 Lacs in case of non-corporate assessee 1. Adjusted total income has been defined u/s 115JC(2) 2. Certain terms for the purpose of AMT have been defined u/s 115JF ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T have been defined u/s 115JF 18.50% of book profit - U/s 115JC (1 ) Exception: 9% in case of unit - U/s 115JC (4 ) Notes: Note 1: - Add Surcharge - For rates see the Regular Tax slabs for each type of assessee Note 2: - Add Health and Education Cess - 4% of Income Tax =========================== Alternate Minimum Tax for the Assessment Year 2019-2020 Assessee Rate of Minimum Alternate Tax Specified persons u/s 115JEE where adjusted total income exceeds ₹ 25 Lacs in case of non-corporate assessee 1. Adjusted total income has been defined u/s 115JC(2) 2. Certain t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax Surcharge =========================== Alternate Minimum Tax [AMT] Applicable to Persons other than a Company Alternate Minimum Tax for the Assessment Year 2016-2017 Assessee Rate of Minimum Alternate Tax Specified persons u/s 115JEE where adjusted total income exceeds ₹ 25 Lacs in case of non-corporate assessee 18.50% of book profit ( U/s 115JC ) Notes: Note 1: - Add Surcharge - 12% if in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax =========================== Alternate Minimum Tax [AMT] Applicable to Persons other than a Company Alternate Minimum Tax for the Assessment Year 2013-2014 Assessee Rate of Minimum Alternate Tax Specified persons u/s 115JEE where adjusted total income exceeds ₹ 25 Lacs in case of non-corporate assessee 18.50% of book profit ( U/s 115JC ) Notes: Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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