https://www.taxtmi.com/news?id=14453 The Finance Bill 2015-16 grants a prospective exemption from Minimum Alternate Tax (MAT) to Foreign Institutional Investors (FIIs); retrospective exemption was not possible because of a prior Authority for Advance Rulings decision and pending litigation. The Government signalled no objection to expedited hearing of the case and has referred the MAT-on-FIIs issue and other legacy tax matters to a Committee chaired by Justice A.P. Shah for recommendations, reaffirming commitment to tax certainty, avoidance of retrospectivity, and an enabling investment environment. en-us Fri, 08 May 2015 12:52:48 +0530 Fri, 08 May 2015 12:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14453 The Finance Bill 2015-16 grants a prospective exemption from Minimum Alternate Tax (MAT) to Foreign Institutional Investors (FIIs); retrospective exemption was not possible because of a prior Authority for Advance Rulings decision and pending litigation. The Government signalled no objection to expedited hearing of the case and has referred the MAT-on-FIIs issue and other legacy tax matters to a Committee chaired by Justice A.P. Shah for recommendations, reaffirming commitment to tax certainty, avoidance of retrospectivity, and an enabling investment environment. News - Fri, 08 May 2015 12:52:48 +0530 https://www.taxtmi.com/news?id=14453