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RETRO TAX LAW
Law committee recommends amendment to CGST law to quash retro tax noticeThe recommendation, if approved by the council may give relief to a large number of industries including online gaming industry, which was ...- Cairn says completed all steps of retro tax repeal law, entitled to Rs 7,900 cr tax refundThe company on November 26, 2021, initiated proceedings to withdraw lawsuits it had filed in several jurisdictions to enforce an internatio...
- Vodafone files for retro tax settlement with IndiaCairn Energy and all the other companies covered by the retrospective tax had already applied for settlement with the Income Tax department...
- Government releases draft of declaration to be given by companies to enable withdrawal of retro tax demandsCairn was levied tax for a 2006 internal reorganisation of India business before listing while Vodafone was charged for not withholding tax...
- Retro tax law scrapped; Taxation Law (Amendments) Act 2021 gets Presidential assentThe law provides a framework for resolving international arbitration cases that the government has lost, namely those filed by Vodafone Gro...
- Indian government asks a US court to dismiss Cairn Energy's plea on $1.2 billion award, cites 'sovereign immunity'
- India asks US court to reject Cairn's $1.2 billion suitCairn had in May asked a US federal court to force Air India to pay a USD 1.26 billion arbitration award the firm had won in December.
- FM Nirmala Sitharaman says rules on retro tax to be framed soonNow the rules for the same have to be framed, which Sitharaman said will be done soon. The finance minister said her ministry officials are...
- Lok Sabha passes taxation amendment bill, scrapping of retro tax lawIn 2012 the Supreme Court ruled that such income is not taxable under the existing provisions of the income tax Act. Consequently, the Fina...
- RBI Governor Das praises govt on retro tax move, post-pandemic fiscal responseThe career bureaucrat-turned-central banker also welcomed the government's approach to the pandemic-triggered crisis as a prudent and calib...
- Lok Sabha passes tax amendment bill, will help settle disputes with Cairn, VodafoneScrapping of retro tax clause of Finance Act 2012 will now settle the long-drawn litigation with Vodafone Group and Cairn Energy omitting a...
- Cairn seeks repeal of retro tax law in upcoming budgetCairn Energy would like the Government of India to take the opportunity to repeal the legislation on retrospective taxation in the forthcom...
- Companies must drop retro tax cases to avail settlement scheme: CBDTThe govt, in Budget 2016-17, had announced a scheme to settle retrospective tax disputes by waiving interest and penalty if the cos paid up...
- No dichotomy between assurances and action on retro tax: Jayant SinhaThe Income Tax Department yesterday said it will move the Supreme Court challenging the Bombay HC order in the Rs 8,500-crore Vodafone tran...
- Retro tax law not applicable on dividends by foreign firmsThe erstwhile UPA government had amended the tax laws in 2012 budget retrospectively, allowing tax authorities to tax overseas transactions.
- Budget 2014 must be a game changer, say economistsIn a pre-budget consultation with Arun Jaitley, economists raised concerns about the slowing manufacturing sector.
- Parthasarathi Shome against retro amendment of tax laws to raise revenueFinance minister's adviser Parthasarathi Shome has said the government should not go in for retrospective amendment of tax laws to raise re...
- GAAR: Government studying Shome panel suggestionsThe retrospective amendments to the income tax laws had generated controversy as companies criticised the move.
- Recommendations on retro-tax laws under examination: GovernmentThe retrospective amendments to the Income Tax laws had generated controversy as several global companies criticised the move.
- Shome panel submits final report on retro-tax lawsThe government-appointed panel on taxation of indirect transfer of assets today submitted its report to Finance Minister P Chidambaram.
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