India's Ministry of Finance recently issued a release requesting public comments on Minimum Alternate Tax (MAT) on foreign institutional investors (FII). Under Finance Act 2015, from 1 April 2015 FIIs are exempted from MAT in relation to long-term capital gains from securities transactions and short-term gains if subject to securities transactions tax. However, the Indian government intends to pursue MAT claims arising prior to 1 April 2015, and a MAT committee has been formed to develop meth…