- Govt. has decided to waive the controversial MAT on capital gains made by FIIs prior to April 1, 2015.
- The decision to be carried out through an amendment to Income Tax Act.
- Earlier, Justice A.P. Shah Committee has said that there is no legal basis for levying 20% MAT on past capital gains.
- Finance ministry has already exempted FIIs from MAT from April 1, 2015, through a provision in the 2015-16 budget.
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