https://www.taxtmi.com/news?id=14939 The Report concludes that MAT under Section 115JB is an integrated code tied to Companies Act accounting obligations and therefore does not apply to FIIs/FPIs that have no established place of business or PE in India. Section 115AD constitutes a self contained concessional tax regime for FIIs/FPIs on securities income; applying MAT would render that regime otiose. The Committee views the 2015 prospective amendment as clarificatory and recommends legislative or administrative clarification to exclude FIIs/FPIs from MAT. en-us Wed, 02 Sep 2015 18:46:19 +0530 Thu, 03 Sep 2015 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14939 The Report concludes that MAT under Section 115JB is an integrated code tied to Companies Act accounting obligations and therefore does not apply to FIIs/FPIs that have no established place of business or PE in India. Section 115AD constitutes a self contained concessional tax regime for FIIs/FPIs on securities income; applying MAT would render that regime otiose. The Committee views the 2015 prospective amendment as clarificatory and recommends legislative or administrative clarification to exclude FIIs/FPIs from MAT. News - Wed, 02 Sep 2015 18:46:19 +0530 https://www.taxtmi.com/news?id=14939