Section 115JEE of Income Tax Act "Application of this Chapter to certain persons"
115JEE. (1) The provisions of this Chapter shall apply to
a person who has claimed any deduction under-
(a) any section (other than section 80P) included in Chapter
VI-A under the heading "C.-Deductions in respect of certain
incomes"; or
(b) section 10AA; or
(c) section 35AD.
(2) The provisions of this Chapter shall not apply to an
individual or a Hindu undivided family or an association of
persons or a body of individuals, whether incorporated or
not, or an artificial juridical person referred to in
sub-clause (vii) of clause (31) of section 2, if the
adjusted total income of such person does not exceed twenty
lakh rupees.
Following sub-section (2A) shall be inserted after
sub-section (2) of section 115JEE by the Taxation and Other
Laws (Relaxation and Amendment of Certain Provisions) Act,
2020, w.e.f. 1-4-2021 :
(2A) The provisions of this Chapter shall not apply to
specified fund referred to in clause (c) of the Explanation
to clause (4D) of section 10.
(3) Notwithstanding anything contained in sub-section (1) or
sub-section (2), the credit for tax paid under section 115JC
shall be allowed in accordance with the provisions of
section 115JD.
115JF. In this Chapter-
(a) "accountant" shall have the same meaning as in the
Explanation below sub-section (2) of section 288;
(b) "alternate minimum tax" means the amount of tax computed
on adjusted total income,-
(i) in case of an assessee being a unit referred to in
sub-section (4) of section 115JC, at a rate of nine per
cent;
(ii) in any other case, at a rate of eighteen and one-half
per cent;
(ba) "convertible foreign exchange" means a foreign exchange
which is for the time being treated by the Reserve Bank of
India as convertible foreign exchange for the purpose of the
Foreign Exchange Management Act, 1999 (42 of 1999) and the
rules made thereunder;
(bb) "International Financial Services Centre" shall have
the meaning assigned to it in clause (q) of section 2 of the
Special Economic Zones Act, 2005 (28 of 2005);
(c) [***]
(d) "regular income-tax" means the income-tax payable for a
previous year by a person on his total income in accordance
with the provisions of this Act other than the provisions of
this Chapter.
(e) "unit" means a unit established in an International
Financial Services Centre.