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TMI BlogGovernment 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;X X X X Extracts X X X X X X X X Extracts X X X X ..... 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; - News and Press Release Dated:- 2-9-2015 - News - Final Report of the Justice A.P. Shah Committee on Direct Tax Matters Constituted with the Initial Mandate to Examine the Matter Rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to Levy of MAT on FIIs/FPIs for the Period Prior to 01.04.2015 Released A Committee on Direct Tax matters chaired by Justice A.P. Shah was 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. The Committee has submitted its final report on applicability of MAT on FIIs/FPIs for the period prior to 01.04.2015 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o 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 Committee has suggested that a Circular may be issued clarifying the inapplicability of MAT provisions to FIIs/FPIs. The Government has accepted the recommendation of the Committee to cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arify the inapplicability of MAT to FIIs/FPIs and has decided that an appropriate amendment to the Income-tax Act will be carried out. Through the amendment the Government proposes to clarify that MAT provisions will not be applicable to FIIs/FPIs not having a place of business/ permanent establishment in India, for the period prior to 01.04.2015. Pending such amendment, CBDT will convey to the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ield formations the decision of the Government to accept the recommendation. The Report of the Committee is available on the website of the Finance Ministry and the Income-tax Department at www.finmin.nic.in and www.incometaxindia.gov.in - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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