India on Thursday moved to mollify foreign investors who were hit by bills for several years of taxes on previously untaxed gains, triggering a sell-off in financial markets.
Overseas funds chalked up their biggest single-day sales of Indian shares and bonds in a year and a half on Wednesday, fuelling concern that Asia's third-largest economy will drive off foreign investors with its minimum alternate tax (MAT).
On Thursday, the government set up a panel to suggest ways to resolve the MAT dispute as well as some other tax issues.
India moves to resolve tax row, mollify foreign investors - IBNLive
Overseas funds chalked up their biggest single-day sales of Indian shares and bonds in a year and a half on Wednesday, fuelling concern that Asia's third-largest economy will drive off foreign investors with its minimum alternate tax (MAT).
On Thursday, the government set up a panel to suggest ways to resolve the MAT dispute as well as some other tax issues.
India moves to resolve tax row, mollify foreign investors - IBNLive
