finance ministry is learnt to have accepted more than 150 of the 190 recommendations

The finance ministry is learnt to have accepted more than 150 of the 190 recommendations of the Standing Committee on Finance ( which also recommended exemption to old settlers of Sikkim but it is not clear whether this recommendation has been accepted or not), headed by BJP leader Yashwant Sinha. Finance Minister P Chidambaram has broadly gone with the 2010 version of the Bill, tabled in Parliament by his predecessor Pranab Mukherjee, instead of reverting to his own version of 2009. This means taxpayers might continue to enjoy exemption on maturity of some of their investments and industry could pay Minimum Alternate Tax (MAT) on book profits, instead of gross assets.(source: Businessline)