Government Accepts Shah Panel Report on Tax Waiver in Big Relief for Foreign Investors

In a move to placate foreign investors, the government has accepted a report on minimum alternate tax or MAT which recommends a waiver of tax on capital gains of earlier years. "Today I have accepted the report of the AP Shah Panel," Mr Jaitley said on Tuesday evening, explaining that the report suggests that no retrospective tax be levied on foreign investors. Mr Jaitley said he would make the change permanent through legislation ...