Respuesta :
Alternative minimum tax liability for the year will be $0
As it is described from the name only , Alternate Minimum Tax is a minimum tax which is is leviable alternatively to normal tax.
Rate of AMT is 18.5% in addition with applicable surcharge and cess.
If the person for which AMT is to be calculated is a unit located in an International Financial Services Centre (IFSC) and receives income only in convertible foreign currency, the AMT rate which will be applicable will be 9%.
AMT is a tax which is levied on ‘adjusted total income’ in a FY where the tax on normal income is lower than AMT on Adjusted total income.
So, irrespective of amount of normal tax, AMT has to be paid by taxpayers to whom AMT provisions are applied.
To know more about AMT here:
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