No coercion by taxmen to recover MAT dues, says CBDT
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In a breather for investors, Central Board of Direct Taxes, CBDT said taxmen will not resort to coercive methods to recover dues towards Minimum Alternate Tax, MAT on capital gains made by Foreign Institutional Investors. The Board said it will wait for the Supreme Court order on the issue. CBDT Chairperson Anita Kapur said the merit of levying MAT on capital gains will be decided by A P Shah Committee and the Supreme Court.
MAT is a way of making companies pay a minimum amount of tax. It is applicable to all companies except those engaged in infrastructure and power sectors. Ms. Kapur also said the menace of tax evasion is spoiling the culture of compliance in the country. She said Income Tax department will ensure that chronic evaders are not able to get away.
MAT is a way of making companies pay a minimum amount of tax. It is applicable to all companies except those engaged in infrastructure and power sectors. Ms. Kapur also said the menace of tax evasion is spoiling the culture of compliance in the country. She said Income Tax department will ensure that chronic evaders are not able to get away.
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