Alternate minimum tax (AMT) credit can be carried forward up to __________ immediately succeeding the assessment year in which such credit become allowable.

CS Executive · Tax Laws and Practice · PYQS · June 2021
Alternate minimum tax (AMT) credit can be carried forward up to __________ immediately succeeding the assessment year in which such credit become allowable.
(A) 10th assessment year
(B) 12th assessment year
(C) 15th assessment year
(D) 20th assessment year

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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