UPDATE 1-India to rule on MAT claims for tax treaty investors within a month

April 24, 2015 11:08 AM

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MUMBAI, April 24 (Reuters) - India's tax department will rule within a month on alternative tax claims made against foreign investment funds covered by tax treaties, the finance ministry said, as the government moves to defuse its latest tax row with outside investors.

Foreign investors in India previously paid 15 percent on short-term listed equity gains, 5 percent on gains from bonds, and nothing on long-term gains. However, from late 2014 many firms received notices demanding payment of a so-called minimum alternative tax (MAT) on past income.

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