Government buries retro tax; introduces Bill in Lok Sabha to withdraw demands on Cairn, Vodafone
The Hindu
Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha.
The government on Thursday introduced a Bill in the Lok Sabha seeking to bury retrospective tax demands it had made on companies such as Cairn Energy Plc and Vodafone Group of U.K. Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha which seeks to withdraw tax demands made on indirect transfer of Indian assets prior to May 28, 2012. “It is also proposed to refund the amount paid in these cases without any interest thereon,” the Bill said.
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