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Section 115JB Amendment: No Minimum Alternate Tax for Foreign Firms Without Permanent Establishment in India from April 2001.
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....Amendment of section 115JB. - Minimum Alternate Tax (MAT) shall not be applicable to a foreign company, w.e.f. 01.04.2001 if the foreign company does not have as a permanent establishment under relevant Double Taxation Avoidance Agreement (DTAA) or a place of business in India.....