UPDATE 1-India to hold off issuing new minimum alternate tax claims

May 11, 2015 1:59 PM

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NEW DELHI May 11 (Reuters) - India will not issue any new demands for payments under a policy aimed at ensuring companies pay a minimum amount of tax, following an outcry from foreign businesses and investors.

The Central Board of Direct Taxation, part of India's Tax Department, also said on Monday it would take no coercive action to pursue claims that have already been filed under the so-called minimum alternate tax (MAT).

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