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The Income Tax Department has issued tax notices in 68 cases of overseas funds so as to collect minimum alternate tax (MAT) from them, Parliament was informed on Friday.
The total tax demand of Rs 602.83 crore has been raised on these 68 cases, Minister of State for Finance Jayant Sinha told the lower house in a written reply.
"The applicability of MAT provisions is a legal issue and wherever the cases require application of MAT provisions, the same is being done," Sinha said.
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