Sir you have stated in this and previous videos that "minimum tax can only be adjusted current year tax lability " however as per section 113(c) minimum tax shall be carried forward and adjusted against tax liability for 3[three] tax years "Provided further that the amount under this clause shall be carried forward and adjusted against tax liability for 3[three] tax years immediately succeeding the tax year for which the amount was paid. Please clarify
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Sir you have stated in this and previous videos that "minimum tax can only be adjusted current year tax lability " however as per section 113(c) minimum tax shall be carried forward and adjusted against tax liability for 3[three] tax years
"Provided further that the amount under this clause shall be carried forward and adjusted against tax liability for 3[three] tax years immediately succeeding the tax year for which the amount was paid.
Please clarify
will IA make a detailed video on that..