Hi guys 👋 in this blog lets see about Alternative minimum fats before going into alternative minimum tax concept that is amt let us understand about section 10A available for all SSC for export oriented unit located exemption is for the export profit resulting from export turnover it means money brought into India in convertible foreign exchange within 6 months from the end of the financial year for money retained outside India with the approval of RBI Mod of computing export profit where domestic and export turnover or available total profit export on our total turnover quantum of exemption 100% profit in the first five years 50% for next 5 years  another 50 for full film and of transfer of reserves condition introduction to alternative minimum tax it is exemption of mat provision which are applicable for companies we shall see mat provisions in detail when we deal with assessment of companies alternative minimum tax provisions very introduced from assessment year 2012 to 13 this was first introduced for LLC and from assessment year 2013 to 14 it is extended for all other SSC non corporate assassy who enjoys Book Profit were not paying tax or wear paying lesser tags due to benefit enjoyed through exemption under section 10A deduction in order to make them participate in the economic process please provisions where introduced whenever this is applicable Book has to be compulsory audittered by I character of content and report in this regard should be obtained alternative minimum for limited liability partnership firm partnership firm which have individuals and artificial juristic person who adjusted total income exceed 20 lakh it means in come computer using the normal provisions increased by exemption under section 10A all based on detection under chapter 6 except at total income after providing for all allowances expenditure exemptions and deduction under section 10A and detection 80h and 35 less with the depreciation on asset which are climbed under section 35 which we will get adjusted total income normal income of playing all provision of tax law normal dress on the above said income total income offline provisions of Tax at 18.5 percentage + applicable on it if the unit of a person is located on International Financial Service Centre deriving income from convertible foreign exchange will be leaved at 9% this is applicable if tax is paid applying the provisions in our step of computation this is applicable if the tax payable is Greater the different starts paid as per minus tax paid as per normal provisions can be avoid as tax credit by the SSC maximum period of carry forward in 15 years assessment year

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