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Justice AP Shah Says No MAT on FPIs

Published on Tue, Sep 01,2015 | 22:25, Updated at Tue, Sep 01 at 22:27Source : Moneycontrol.com |   Watch Video :

The much awaited Justice A P Shah Committee Report, on the issue of levying MAT on FPIs, has finally been made public by the Finance Ministry. The Report finds that MAT cannot be levied on FPIs and recommends to the Government…
(i)    To bring an amendment to Section 115JB of the Income Tax Act, 1961 clarifying the complete inapplicability of the MAT provisions to FIIs/FPIs; or
(ii)    CBDT may issue a circular clarifying the complete inapplicability of the MAT provisions to FIIs/FPIs

In this interview with CNBC TV18’s Shereen Bhan & Menaka Doshi, Justice A P Shah explains the findings of his committee.
 
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