Taxation - Income TaxQuestion 5578 of 146
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8. AMT liability are not attracted to: Choose the correct answer from the following:

Options

AIndividual/AOP
BHUF/BOI/Artificial Juridical person not paying tax under default tax regime.
CIndividual/HUF/BOI/AOP
DIndividual/HUF/BOI/AOP paying tax under default tax regime. (1 Mark) Case Scenario - III Mr. Mohanraj of Kerala, unregistered under GST, deals with supply of cosmetic items within Kerala. He ordered an i-phone for his son studying in Pune, Maharashtra, through online from an Electronic Commerce Operator located in Delhi. He gave his Kerala address for Billing and his son's hostel address in Maharashtra for delivery. The supplier in Delhi dispatched the ordered phone from his godown in Karnataka. He applied for registration under GST in the name of Mohanraj & Co., a proprietor concern and got registered in the State of Kerala. During the month of June 2024, (i) He purchased goods valued ` 5,00,000 for making further supply. Out of the above purchases, he gifted stock worth ` 2,00,000 to his daughter, who is of doing the same line of business in Kerala, to help her. (ii) He supplied stock valued at ` 1,50,000 to an unregistered buyer in Kerala. (iii) Mohanraj paid ` 10,000 towards rent to Local Municipal Corporation for the shop taken on rent at a Bus Terminal in Kerala. (iv) He paid a rent of ` 20,000 for a residential house property taken on rent in Kerala. This property was used for his personal residence. All the amounts given above are exclusive of tax, wherever applicable. Rates of GST for goods are 6%, 6% and 12% for CGST/SGST/IGST respectively. Rates of GST for services are 9%, 9% and 18% for CGST /SGST/IGST respectively. Subject to the information given above, conditions for availing ITC are complied with. TAXATION Based on the above information, choose the most appropriate answer for the questions 9-11:
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Correct Answer

✅ Option D — Individual/HUF/BOI/AOP paying tax under default tax regime. (1 Mark) Case Scenario - III Mr. Mohanraj of Kerala, unregistered under GST, deals with supply of cosmetic items within Kerala. He ordered an i-phone for his son studying in Pune, Maharashtra, through online from an Electronic Commerce Operator located in Delhi. He gave his Kerala address for Billing and his son's hostel address in Maharashtra for delivery. The supplier in Delhi dispatched the ordered phone from his godown in Karnataka. He applied for registration under GST in the name of Mohanraj & Co., a proprietor concern and got registered in the State of Kerala. During the month of June 2024, (i) He purchased goods valued ` 5,00,000 for making further supply. Out of the above purchases, he gifted stock worth ` 2,00,000 to his daughter, who is of doing the same line of business in Kerala, to help her. (ii) He supplied stock valued at ` 1,50,000 to an unregistered buyer in Kerala. (iii) Mohanraj paid ` 10,000 towards rent to Local Municipal Corporation for the shop taken on rent at a Bus Terminal in Kerala. (iv) He paid a rent of ` 20,000 for a residential house property taken on rent in Kerala. This property was used for his personal residence. All the amounts given above are exclusive of tax, wherever applicable. Rates of GST for goods are 6%, 6% and 12% for CGST/SGST/IGST respectively. Rates of GST for services are 9%, 9% and 18% for CGST /SGST/IGST respectively. Subject to the information given above, conditions for availing ITC are complied with. TAXATION Based on the above information, choose the most appropriate answer for the questions 9-11:

All Options:

  • AIndividual/AOP
  • BHUF/BOI/Artificial Juridical person not paying tax under default tax regime.
  • CIndividual/HUF/BOI/AOP
  • DIndividual/HUF/BOI/AOP paying tax under default tax regime. (1 Mark) Case Scenario - III Mr. Mohanraj of Kerala, unregistered under GST, deals with supply of cosmetic items within Kerala. He ordered an i-phone for his son studying in Pune, Maharashtra, through online from an Electronic Commerce Operator located in Delhi. He gave his Kerala address for Billing and his son's hostel address in Maharashtra for delivery. The supplier in Delhi dispatched the ordered phone from his godown in Karnataka. He applied for registration under GST in the name of Mohanraj & Co., a proprietor concern and got registered in the State of Kerala. During the month of June 2024, (i) He purchased goods valued ` 5,00,000 for making further supply. Out of the above purchases, he gifted stock worth ` 2,00,000 to his daughter, who is of doing the same line of business in Kerala, to help her. (ii) He supplied stock valued at ` 1,50,000 to an unregistered buyer in Kerala. (iii) Mohanraj paid ` 10,000 towards rent to Local Municipal Corporation for the shop taken on rent at a Bus Terminal in Kerala. (iv) He paid a rent of ` 20,000 for a residential house property taken on rent in Kerala. This property was used for his personal residence. All the amounts given above are exclusive of tax, wherever applicable. Rates of GST for goods are 6%, 6% and 12% for CGST/SGST/IGST respectively. Rates of GST for services are 9%, 9% and 18% for CGST /SGST/IGST respectively. Subject to the information given above, conditions for availing ITC are complied with. TAXATION Based on the above information, choose the most appropriate answer for the questions 9-11: ✓

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Detailed Solution & Explanation

Alternate Minimum Tax (AMT) provisions under Section 115JC are applicable to a non-corporate assessee who has claimed deduction under Chapter VI-A under the heading 'C. - Deductions in respect of certain incomes' (other than Section 80P), or Section 10AA, or Section 35AD.
However, under Section 115JC(5), AMT provisions shall not apply to a person (individual, HUF, AOP, BOI, or AJP) who has exercised the option of paying tax under the default tax regime under Section 115BAC.
Therefore, AMT liability is not attracted to an Individual/HUF/BOI/AOP paying tax under the default tax regime.

Hence, **Option D** is the correct answer.

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