India won't yield to foreign investors' demand for tax waiver

April 21, 2015 10:09 AM

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NEW DELHI, April 21 (Reuters) - The Indian government will not yield to the demand of foreign portfolio investors for a tax waiver on capital gains of previous years, a top finance ministry official told reporters on Tuesday.

Finance Minister Arun Jaitley had said in his budget speech that capital gains made by foreign investors from April 1, 2015 would be exempted from minimum alternative tax (MAT).

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