Examine the correctness of the following statements in the context of provisions contained in the Income-tax Act, 1961 relevant for the previous year 2018-19: The provisions of AMT are applicable to all persons other tha

The statement is correct. Applicability of Alternate Minimum Tax 'AMT': Section 115JEE inserted by the Finance Act, 2012 has extended the levy of AMT on any person other than company who has claimed deduction under any sections except section 80-P in Chapter VI-A or under section 10-AA or under section 35AD would be subject to AMT. However, the provisions of section 115JE shall not be applicable to an individual, HUF, AOP, BOI or Artificial Juridical Persons where the adjusted total income does not exceed ₹20 lakhs.