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Finance Minister Tables Taxation Laws Amendment Bill to Withdraw Retrospective Tax - (06 Aug 2021)

DIRECT TAXATION

Finance Minister Nirmala Sitharaman has tabled the Taxation Laws Amendment Bill in Lok Sabha, which seeks to withdraw the contentious retrospective tax more than nine years after it came into force, The Bill proposes to amend the Income-tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012.

Tags : FINANCE MINISTRY TAXATION LAWS AMENDMENT BILL

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