Arun Jaitley Justifies Rs 40,000 Crore Tax Demand on FIIs

Finance Minister Arun Jaitley on Tuesday said the government will press ahead with Rs 40,000 crore tax demands on foreign institutional investors (FII) for capital gains made during previous years. The finance minister told NDTV that the tax demand was made in accordance with a law brought by the previous government and upheld by a tribunal.