Regardless of everything though, the bill is a welcome move on the part of the government, that should boost investor confidence in India by providing some much-needed tax certainty
Taxation Laws Amendment Bill 2021: The Taxation Laws (Amendment) Bill, 2021, was approved by the Lok Sabha on Friday, scrapping retrospective tax demand provisions. The bill allows the government to waive tax demands on indirect Indian asset transfers initiated before May 28, 2012, if the transaction was completed before that date. It also suggested that firms facing
The rulings come after two big arbitration awards against India. In September, international arbitrators said India acted unfairly in a $3 bn tax dispute with Vodafone and in another ruling ordered India to return $1.2 bn to Cairn for a similar failure. India has challenged the Vodafone ruling in Singapore, the govt informed Parliament on Monday.