As corporate India gears up to switch to a new accounting standard (Ind-AS) from FY17, the government has set up a committee to assess the impact of minimum alternate tax (MAT) on companies under the new accounting regime.The committee, supervised by the Central Board of Direct Taxes (CBDT), has experts from the Institute of Chartered Accountants of India (ICAI), taxation and senior officials of the tax department as its members. The committee will look at ways to resolve the differences, arising in MAT computation when a company adopts the International Financial Reporting Standards-compliant Ind-AS.

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