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Minimum Alternate Tax News

20 Jan 2022

Minimum Corporate Tax Presented by Rajiv Gandhi in 1987-88

Former Prime minister Rajiv Gandhi presented Minimum Corporate tax in union budget in 1987-88 as finance minister. The governemt estimates 75 crores extra revenue income from this tax only. here you know why government implement this tax in year 1987-88

20 Sep 2019

At Rs 1.45K cr, govt's burden for cutting corp tax is 33% of defense budget

The total estimated expenditure to be born by the government is 33.64 percent of India's total Defense Budget at Rs 4,31,010.79 crore.

20 Sep 2019

How India Inc reacted to FM's announcement on corporate tax, MAT rate cuts

The Finance Ministry on Friday announced that corporate tax rates will be slashed to 22 percent for domestic companies and 15 percent for new domestic manufacturing companies.

20 Sep 2019

Corporate tax rates slashed to 22% for domestic cos, 15% for new domestic cos

The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.

26 Aug 2019

India needs single corporate tax rate of 25%: KPMG

The report titled "India: Redefining its growth path" observed that the Minimum Alternate Tax (MAT) should be withdrawn and Dividend Distribution Tax (DDT) should be replaced by the witholding tax.

Commerce Ministry

26 Jun 2017

Commerce Ministry to consider 62 SEZ projects for cancellation

Delhi State Industrial & Infrastructure Development Corporation, Lark Projects, Mansarovar Industrial Development Corporation and Diamond IT Infracon have neither applied for LoA nor for notification of SEZ.

Central Board of Direct Taxes

19 Apr 2016

Double taxation on your overseas income may soon go

Central Board of Direct Taxes

19 Apr 2016

Double taxation on your overseas income may soon go

03 Mar 2016

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.

Union Budget 2016

17 Feb 2016

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.

10 Feb 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.

08 Dec 2015

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.

Minimum Alternate Tax

30 Sep 2015

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.

24 Sep 2015

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.

Minimum Alternate Tax

25 Sep 2015

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.

Infrastructure investment

21 Sep 2015

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.

02 Sep 2015

'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.

02 Sep 2015

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.

01 Sep 2015

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.

24 Aug 2015

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.

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