Income Tax Act, 2025
Section 4: Ins. by Act 28 of 2016, s. 55 (w.e.f. 12017).
4. Ins. by Act 28 of 2016, s. 55 (w.e.f. 12017).
493
1[CHAPTER XIIBA
SPECIAL PROVISIONS RELATING TO CERTAIN 2[PERSONS OTHER THAN A COMPANY]
3[115JC. Special provisions for payment of tax by certain persons other than a company.—(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 income-tax on such total income at the rate of eighteen and one-half per cent.
(2) Adjusted total income referred to in sub-section (1) shall be the total income before giving effect
to this Chapter as increased by—
(i) deductions claimed, if any, under any section (other than section 80P) included in
Chapter VIA under the heading ”C.—Deductions in respect of certain incomes”; 4***
(ii) deduction claimed, if any, 5[under section 10AA; and]
6[(iii) deduction claimed, if any, under section 35AD as reduced by the amount of depreciation
allowable in accordance with the provisions of section 32 as if no deduction under section 35AD was
allowed in respect of the assets on which the deduction under that section is claimed.]
(3) Every person to whom this section applies shall obtain a report, in such form as may be
prescribed, 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 and furnish such report on or
before the due date of furnishing of return of income under sub-section (1) of section 139.]
7[(4) Notwithstanding anything contained in sub-section (1), where the person referred to therein, is a
unit located in an International Financial Services Centre and derives its income solely in convertible
foreign exchange, the provisions of sub-section (1) shall have effect as if for the words “eighteen and onehalf per cent.”, the words “nine per cent.” had been substituted.]
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 income-tax on such total income at the rate of eighteen and one-half per cent.
Adjusted total income referred to in sub-section
shall be the total income before giving effect
to this Chapter as increased by—
deductions claimed, if any, under any section (other than section 80P) included in
Chapter VIA under the heading ”C.—Deductions in respect of certain incomes”; 4***
deduction claimed, if any, 5[under section 10AA; and]
6[
deduction claimed, if any, under section 35AD as reduced by the amount of depreciation
allowable in accordance with the provisions of section 32 as if no deduction under section 35AD was
allowed in respect of the assets on which the deduction under that section is claimed.]
Every person to whom this section applies shall obtain a report, in such form as may be
prescribed, 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 and furnish such report on or
before the due date of furnishing of return of income under sub-section
of section 139.]
7[
Notwithstanding anything contained in sub-section
shall have effect as if for the words “eighteen and onehalf per cent.”, the words “nine per cent.” had been substituted.]