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Government accepts the Recommendation of the Justice A.P. Shah Committee to clarify the Inapplicability of MAT to FIIs/FPIs and has decided that an appropriate Amendment to the Income-Tax Act will be carried out;

Dated:- 2-9-2015 - Final Report of the Justice A.P. Shah Committee on Direct Tax Matters Constituted with the Initial Mandate to Examine the Matter Relating to Levy of MAT on FIIs/FPIs for the Period Prior to 01.04.2015 Released A Committee on Direct .....

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FIIs/FPIs for the period prior to 01.04.2015 to the Government on 25.08.2015. The Committee has recommended that section 115JB of the Income-tax Act may be amended to clarify the inapplicability of MAT provisions to FIIs/FPIs. Alternatively, the Comm .....

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