Sensex plunges 243 points to 13-month low as China concerns outweigh MAT relief

Last Updated: Wednesday, September 2, 2015, 17:43

The 50-share Nifty after recapturing the 7,800-mark in early trade to touch a high of 7,862.55, succumbed to selling pressure and cracked the 7,700-level to a low of 7,699.25 before settling at 68.85 points or 0.88 per cent lower at 7,717.00.

Govt accepts Shah panel report, says no retrospective tax on FIIs

Last Updated: Tuesday, September 1, 2015, 22:56

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.

No retrospective tax on FIIs; govt accepts Shah panel report

Last Updated: Tuesday, September 1, 2015, 20:21

In a big relief to FIIs, the government on Tuesday accepted recommendation of a high level panel that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively.

Govt accepts Shah Panel report, no retrospective tax on FIIs

Last Updated: Tuesday, September 1, 2015, 20:03

The government has accepted the Justice A P Shah panel report which recommends non-applicability of Minimum Alternate Tax (MAT) on FIIs, Finance Minister Arun Jaitley said on Tuesday.