AMT ( Alternative Minimum Tax)

AMT ( Alternative Minimum Tax)

1. Provisions relating to AMT 2. Basic provisions relating to applicability of the AMT to different taxpayers 3. Rate of AMT 4. Meaning of adjusted total income 5. Tax liability in case of a non-corporate taxpayers to whom the provisions of AMT apply 6. AMT credit 7. Adjustment of carried forward AMT credit 8. Period for which AMT credit can be carried forward 9. Report from Chartered Accountant AMT stands for Alternative Minimum Tax. Initially the concept of MAT (Minimum Alternative Tax)  was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT. In this part you can gain knowledge about various provisions relating to AMT.