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Applicability of Minimum Alternate Tax (MAT) on foreign companies for the period prior to 1.04.2015

Income Tax - 18/2015 - Dated:- 23-12-2015 - Instruction No. 18/2015 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (TPL Division) New Delhi, the 23rd December, 2015 Subject: -reg. On the issue of applicability of Minimum Alternate Tax (MAT) under section 115JB of the Income Tax Act, 1961 ('the Act') on Foreign Institutional Investors (FIls)/Foreign Portfolio Investors (FPIs), the Board had issued instruction No. 9 dated 02/09/2015 informing .....

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s also advised that the recovery of outstanding demands, If any, in such cases may not be pursued. 2. The Government had, subsequently, considered the broader issue of applicability of section 115JB of the Act to foreign companies which do not have a place of business/permanent establishment in India. A Press Release dated 24.09.2015 was issued conveying the decision of the Government on inapplicability of MAT on foreign companies in certain cases. Subsequently, the Government conveyed its inten .....

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