14 firms approach government to settle retro tax cases, says Revenue Secretary
The Hindu
Cairn, Earlyguard among parties: Bajaj
As many as 14 companies, against whom demands were raised, have approached the government to settle cases, Revenue Secretary Tarun Bajaj said.
The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest.
Talking to PTI, Mr. Bajaj said of the 17 companies against whom retrospective tax demand was raised, barring three or four entities, all had given an undertaking to the government to resolve the cases.
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