With 'The Taxation Laws (Amendment) Bill, 2021", Govt buried the ghost of retrospective taxation.
Amends Income Tax act, retro tax demand nullified.
Much needed step. Will boost industry confidence.
Modi govt still correcting the mistakes of the UPA govt.
Amends Income Tax act, retro tax demand nullified.
Much needed step. Will boost industry confidence.
Modi govt still correcting the mistakes of the UPA govt.
This was a much needed step needed to restore confidence among foreign companies investing in India. Retro tax goes against the basic principle of fairness and violates all bilateral and multilateral trade treaties
In most of the cases India has lost arbitration cases in international courts. And they were on verge of seizing and overseas Indian assets to recover their dues.
Cairn Accepts $1 Billion Refund Offer, To Drop Cases Against India which they have won in international courts.
Under this settlement Govt wont be paying penalty and interest, but pay just the Retro tax it collected from the Cairn.
Under this settlement Govt wont be paying penalty and interest, but pay just the Retro tax it collected from the Cairn.
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