Tax Titbits

Abstract

There is good news for foreign companies from the report of A.P. Shah committee dated 1.9.2015 recommending that Minimum Alternate Tax (MAT) should not be made applicable to them retrospectively for years prior to A.Y.2015-2016. It is reported that the Government has decided to accept the recommendation. The object of the Government in accepting the same is not to inhibit Foreign Direct Investments (FDIs), but if it is to be applicable prospectively, how does it help to encourage FDIs.