Section 115JD → Section 132
Tax credit for alternate minimum tax
Quick Answer
Section 115JD of the Income Tax Act, 1961 (Tax credit for alternate minimum tax) corresponds to Section 132 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 115JD
Provision Summary
Allows the excess AMT paid over normal tax to be carried forward and set off for up to 15 assessment years.
Sec 132
Provision Summary
Retained. Digital ledger of AMT credit is maintained seamlessly on the taxpayer's portal dashboard.
Key Changes & Highlights
- AMT credit automatically lapses if the taxpayer permanently switches to the new tax regime (115BAC).
Related Sections
Frequently Asked Questions
What does Section 115JD of the Income Tax Act 1961 deal with?
Section 115JD (Tax credit for alternate minimum tax) Allows the excess AMT paid over normal tax to be carried forward and set off for up to 15 assessment years.
What is the new section number for Section 115JD under the Direct Tax Code 2025?
Section 115JD of the ITA 1961 maps to Section 132 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 115JD under the new tax code?
Section 115JD is marked as "Retained" with status "Active". Impact: High - Requires careful tax planning before switching tax regimes.
What are the key changes to Section 115JD under DTC 2025?
AMT credit automatically lapses if the taxpayer permanently switches to the new tax regime (115BAC).
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
Need professional help on Section 115JD?
Compare trusted providers — both offer DTC 2025-ready CA services.
*Affiliate links — we may earn a small commission at no extra cost to you. Disclosure.
Want to calculate tax on this section?