The Indian Central Board of Direct Taxes Sept. 23 announced the alternate minimum tax (AMT) surcharge rates on a specific range of income for associations of persons (AOPs) and bodies of individuals (BOIs) in assessment year (AY) 2025-2026. The surcharge rates apply to: 1) short-term capital gains; 2) long-term capital gains; 3) dividend income; 4) unexplained income chargeable to tax; and 5) any other income. The announcement clarifies that the surcharge rates for AOPs with only companies as members can’t exceed 15 percent. [India, Central Board of Direct Taxes, 09/23/24]
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