[BREAKING] Finance Ministry introduces Bill to withdraw retrospective amendments to Income Tax Act - A compromise for Vodafone, Cairn judgments

The 2012 amendments to the Income Tax Act had made gains arising from the transfer of assets located in India through the transfer of the shares of a foreign company, taxable.
vodafone, Indian government
vodafone, Indian government

The Central government has introduced Taxation Laws (Amendment) Act, 2021 by which it has proposed to do away with the retrospective application of 2012 amendments to the Income Tax Act which had made gains arising from the transfer of assets located in India through the transfer of the shares of a foreign company, taxable.

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