 "income tax bill, income tax, tax")
The Income-Tax (I-T) Bill, 2025, has broadened the scope of the alternative minimum tax (AMT) applicable to taxpayers other than companies, potentially increasing the tax burden on partnership firms and limited liability partnerships (LLPs) with long-term capital gains (LTCG).
AMT ensures that such firms pay a minimum tax of 18.5 per cent. However, during the computation of AMT, LTCG is currently taxed at a preferential rate of 12.5 per cent. The new Bill seeks to remove this special treatment for LTCG, thereby increasing the overall tax burden.
The Bill, introduced in the Lok Sabha and currently under review by a
