Budget 2012: Highlights - Alternate Minimum Tax (AMT):

Secs.115JC, 115JD,115JE: The title of chapter XII-BA has been changed to Special provisions relating to Persons other than Company‟ from Special provisions relating to certain LLPs‟ Presently AMT provisions apply where the regular income-tax payable for a previous year by a LLP is less than 18.5% of adjusted profits for such previous year, the adjusted total income shall be deemed to be the total income of the LLP and it shall be liable to pay income-tax on such total income at the rate of 18.5%.

Currently these provisions apply only to Limited Liability Partnerships. Now with a proposed amendment, w.e.f from 1st April 2013, the scope of AMT will be extended and these provisions shall apply to all persons other than Companies (for e.g partnership firms, LLPs, AOP, individuals, HUFs, trusts etc.).