The finance minister has taken an important first step in clarifying that from April 1, 2015 this (MAT) would not be applicable to FIIs. There are some issues with the wordings which, hopefully, once the Budget gets cleared in the parliament, will be sorted out. But the spirit is in the right place in that there is no intent to tax FIIs. Having said that, this comes as a surprise to most investors. It is a bit unfair to say that whenever something like this happens, it is a retrograde step on th ..
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