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1% cut in corporate taxes to cost exchequer Rs 15K crore: Adhia

1% cut in corporate taxes to cost exchequer Rs 15K crore: Adhia

Finance Ministry on Thursday said it refrained from reducing the corporate tax rate by 1 percent in 2016-17 Budget as it would have resulted in revenue sacrifice of Rs 15,000 crore and impacted the fiscal consolidation programme.

 

Budget 2016: Exempt REITs from DDT, stamp duty, says CBRE

Budget 2016: Exempt REITs from DDT, stamp duty, says CBRE

Real Estate Investment Trusts should be exempted from the dividend distribution tax and stamp duties in the upcoming Union Budget so as to make them attractive to domestic and foreign investors, says property consultant CBRE.

Commerce Ministry hopes for SEZ tax benefits in Budget 2016

Commerce Ministry hopes for SEZ tax benefits in Budget 2016

The Commerce Ministry has suggested the removal of minimum alternate tax (MAT) on these zones in the Budget.

 

Withdrawal of SEZ tax sops to hit exports, jobs: Trade body

The government should not withdraw any tax incentives from special economic zones as it might adversely impact exports and job creation, EPCES, a trade promotion body, Tuesday said.

Govt stands by its MAT circular in Supreme Court

In a relief to foreign investors, Government on Wednesday told the Supreme Court that it stood by its circular exempting them from paying minimum alternate tax (MAT) if they do not have a permanent establishment in India.

 

MAT exemption to foreign cos will boost investor confidence: FinMin

Finance Ministry Thursday said the decision to exempt foreign companies which do not have a permanent establishment from payment of MAT will boost investor confidence.

Govt to amend I-T Act to exempt foreign firms without PE from MAT

Govt to amend I-T Act to exempt foreign firms without PE from MAT

In a big relief to foreign firms, government on Thursday said the I-T Act will be amended with retrospective effect to exempt overseas companies which do not have a permanent establishment in India from paying MAT.

 

Jaitley seeks foreign investments for infra, other sectors

Jaitley seeks foreign investments for infra, other sectors

Having put the MAT controversy to rest, Finance Minister Arun Jaitley is now seeking to attract foreign investors, including large asset managers, to the Indian markets.

'Decision to scrap MAT will boost India's investment position'

Industry body CII Wednesday said the government's announcement that minimum alternate tax will not be imposed on overseas portfolio investors retrospectively will boost India's position as a favourable investment destination, help reduce litigation and resolve disputes.

Govt accepts Shah panel report, says no retrospective tax on FIIs

Govt accepts Shah panel report, says no retrospective tax on FIIs

The government has decided to amend the Income Tax Act to clarify the issue with regard to levy of MAT on FIIs and in the meantime CBDT field officers will be asked not to pursue cases against FIIs.

CBDT to soon issue instructions on MAT issue

With the Justice A P Shah panel recommending non-applicability of Minimum Alternate Tax (MAT) on FIIs, the revenue department is likely to soon issue instructions to field officer not to pursue pending cases against foreign institutional investors.

Govt may soon come out with circular on relief to FIIs on MAT

The Revenue Department may soon come out with a circular on providing relief to FIIs from the minimum alternate tax (MAT) with retrospective effect.

CBDT to expeditiously process MAT exemption claims of FIIs

CBDT to expeditiously process MAT exemption claims of FIIs

Government on Friday said the tax department will expeditiously process the cases where FIIs have claimed exemption from minimum alternate tax (MAT) as a benefit under the bilateral tax treaties.

Govt to take action on Shah panel report on MAT soon: FinMin

The government Friday said it will soon take a decision on the Justice A P Shah Committee report on applicability of minimum alternate tax (MAT) on foreign investors, an issue which had riled FIIs.

MAT stand-off: Shah panel submits report to FM

The high-level Justice A P Shah Committee Friday submitted a 66-page report to the government on applicability of minimum alternate tax (MAT) on FIIs, an issue which had riled foreign investors.

Govt cancels 22 SEZs, gives more time to 27 to execute projects

The government has cancelled approvals of 22 special economic zones, including that of Tamilnadu Industrial Development Corporation and True Developers, as no "satisfactory" progress was made to execute the projects.

No coercion by taxmen to recover MAT dues, says CBDT

No coercion by taxmen to recover MAT dues, says CBDT

In a breather for investors, CBDT on Tuesday said taxmen won't resort to coercive methods to recover dues towards Minimum Alternate Tax (MAT) on capital gains made by FIIs and will wait for the Supreme Court order on the issue.

Retrospective tax issue needs quick-fix: Naina Lal Kidwai

Seasoned banker Naina Lal Kidwai says the issue of minimum alternate tax needs to be tackled amicably and fast, even as she sees full convertibility of the rupee as a 10-year programme.