Which panel was recently making news for its recommendations regarding Minimum Alternate Tax (MAT)?
Which panel was recently making news for its recommendations regarding Minimum Alternate Tax (MAT)? [A]AP Shah Panel [B]V V Daga Panel [C]HR Khan Panel [D]Ajay Shankar Panel
AP Shah Committee The Justice AP Shah Committee has recommended that the Foreign Institutional Investors (FIIs) must be granted relief on Minimum Alternate Tax (MAT) for the period before April 1, 2015. As per the Finance Act, 2015 proposed in the union budget, the 20 % MAT on capital gains made by FIIs is waived off from the financial year 2015-16. Though, the issue of imposing MAT for past years till 2014-15 has become controversial. If this recommendation is accepted, it would mean a significant relief for FIIs facing several years of levies on capital gains made by them.
Categories: Current Affairs