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What is Income Tax Computation for Mr. X 2024-25 about?

Mr. X established a unit in a Special Economic Zone (SEZ) and a warehousing facility in Tamil Nadu, fulfilling the conditions for tax deductions under sections 10AA and 35AD of the Income-tax Act, 1961. For the assessment year 2024-25, the tax liability under the default regime (section 115BAC) is ₹46,10,580, while under regular provisions it is ₹13,02,600, with an alternate minimum tax (AMT) liability of ₹30,64,450. It is advisable for Mr. X to opt for the regular provisions due to the lower tax liability

Author

lca.whiteking

Language

EN