Highlights of Taxation Laws (Amendment) Bill 2021 (To end retro tax on Indirect transfer)

Highlights of Taxation Laws (Amendment) Bill 2021 (To end retro tax on Indirect transfer)

The objective of Taxation Laws (Amendment) Bill 2021 is to make the indirect transfer provision apply prospectively i.e from May 2012. Consequently, all existing and future retrospective tax demands are sought to be nullified on this matter. Taxpayers who were impacted will need to withdraw proceedings in court or arbitration forums. Any amounts collected will be paid back in full by the tax authorities (without interest).

This is a bold move that addresses the concerns of many foreign investors. It also puts to an end many of the past arbitration cases pending which have created great embarrassment for India in international circles.

Refer YouTube Link

Published by Business So Simple

Hi, I am business consultant working with a team of Chartered Accountants, Company Secretaries, Lawyers & MBAs. I am promoter of " Make Your Business So Simple" "Make Education So Simple" Make Life So Simple" Make Legal Affairs So Simple".

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: