A press release was issued on 24 September 2015 stating that, with effect from 1 April 2001, the minimum alternate tax (MAT) provisions will not apply to a foreign company if that foreign company is a resident of a country that has concluded a tax treaty with India and the foreign company does not have a permanent establishment (PE) in India within the definition of the term in the relevant treaty; or the foreign company is a resident of a country that has not concluded a tax treaty with India and the foreign company is not required to seek registration under section 380 of the Companies Act 2013.
Section 380 states that a foreign company is to submit specific documents as prescribed under section 380 to the Registrar of Companies within 30 days of the establishment of its place of business in India. The documents specified in the section include incorporation documents, the full address of the head office, a list of directors, etc.
