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CBDT further Advised them not to Pursue the Recovery of Outstanding Demands if any in such cases

Dated:- 3-9-2015 - A Committee on Direct Tax Matters chaired by Justice A.P.Shah , was constituted to examine the issue of applicability of Minimum Alternate Tax (MAT) on FIIs/FPIs for the period prior to 01.04.2015. The Committee has submitted its Final Report to the Government on 25.08.2015. The Committee has recommended that Section 115JB of the Income Tax Act, 1961 ( Act ) may be amended to clarify the inapplicability of the provisions of Section 115JB to FIIs/FPIs having no permanent establ .....

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