Name the committee to recommend that granting relief to FIIs on Minimum Alternate Tax (MAT) will be a positive thing for the market?

a. C Rangarjan Committee

b. Bimal Jalan Committee

c. AP Shah Committee

d. K N Desai Committee

ANSWER: AP Shah Committee

Explanation:

The AP Shah committee on minimum alternate tax (MAT) has recommended to the finance ministry that the levy shouldn't be imposed for the period preceding April 1, 2015. The panel, headed by Law Commission Chairman A P Shah, was set up to resolve the dispute between FIIs and the government after notices were served to 68 FIIs by the Income Tax Department demanding Rs 602 crore as MAT dues.