Under section 206 of the Income-tax Act, 2025, for how many tax years after the year in which it becomes allowable can the alternate minimum tax credit of a person other than a company be carried…

Section 206 of the Income-tax Act, 2025 allows a non-corporate person a credit for alternate minimum tax paid in excess of regular income-tax, to be set off in a later year when regular tax exceeds the alternate minimum tax, but not beyond the fifteenth tax year after the year in which the credit becomes allowable. Shorter periods such as ten or twelve years understate the statutory limit.