Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: empanelment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd
 
 
Direct Tax »
 FinMin may review tax regime on long-term capital gains
 Income tax return: TDS refund on capital gains invested needs to be instant
 CBDT holds circular on indirect tax provisions
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT

CBDT to expeditiously process MAT exemption claims of FIIs
August, 01st 2015

Government today 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.

"The CBDT ( Central Board of Direct Taxes) has directed its officers to expeditiously process the cases where the Foreign Institutional Investors (FIIs) have claimed treaty benefits under the Double taxation Avoidance Agreements (DTAA)," Minister of State for Finance Jayant Sinha said.

The Income Tax Department has sent notices in 68 cases to FIIs for payment of dues totalling Rs 602.83 crore towards MAT.

In a written reply to a question in the Lok Sabha, Sinha said the CBDT has directed that issuance of fresh notices for reopening of cases as also completion of assessment should be put on hold unless the case is getting barred by limitation.

Sinha further said: "The CBDT has not received any application for arbitration from any FII on this issue."

As the MAT notices rocked the markets, the tax department had assured FIIs based in countries with whom India has DTAAs, that they would be exempt from the 20 per cent levy.

The Finance Ministry had in May also set up a 3-member committee under Justice A P Shah to examine the matter relating to levy of MAT on FIIs prior to April 2015. The Committee has submitted its report to the Minister on July 24.

The Budget 2015-16 has exempted FIIs from paying MAT with effect from April 1, 2015.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions