The government clarification will be followed up with amendments to Section 115 JB of the Income Tax Act in the winter session of Parliamen...

If the recommendations are accepted, it would mean a relief for foreign investors facing several years of levies on capital gains.

In a big relief to FIIs, a government-appointed committee has recommended that there was no case for imposing the controversial minimum alt...

The issue began after the tax department sent a raft of notices to FPIs seeking MAT worth hun dreds of crores late last year.

The income-tax department issued notices to FPIs asking them to pay MAT for prior years, prompting worries about an arbitrary tax regime.

The amount is much lower than the $6-7 bn claimed by overseas investors, who have been trying put pressure on the government to withdraw th...

On Monday, some portfolio investors discussed the uncertainty caused by the MAT issue during a conference call organised by Deloitte.

The tax department has issued demand notices to the tune of Rs 6,5007,000 cr (around $1 bn) to foreign portfolio investors (FPIs).

PwC Partner (Tax and Regulatory Services) Suresh Swamy said, "Finance Minister could have clarified that FPIs with treaty benefits would be...

Attorney-General Mukul Rohatgi has agreed to a plea from senior lawyer Harish Salve, representing Castelton.

The assurances came during meetings and conference calls the foreign portfolio investors had today with Minister of State for Finance Jayan...

The proposal was approved by the Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Arvind Mayaram.

A meeting of the FIPB to consider the Tata-Singapore Airlines proposal to start a full-service airline has been postponed to next week.

"The Central Government has approved three proposals of FDI amounting to Rs 38.09 crore approximately," the ministry said in a statement.

DIPP, the nodal body for framing FDI policy, wants to review the policy to ensure there are enough safeguards to ensure domestic healthcare...

The FIPB discussed 30 Foreign Direct Investment (FDI) proposals, including 10 from pharma sector.

The government is likely to finalise FDI policy with regard to existing drug companies ahead of the FIPB meeting on July 5.