Companies facing insolvency proceedings, their lenders and investors hoping to bid for assets of such companies have a reason to cheer. The tax department has announced that companies admitted for corporate insolvency will be exempted from Minimum Alternate Tax (MAT).
1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for Bloomberg Quint.
2. Suraj Nangia, Partner shares his views on the queries raised by Financial Express readers.