Rajya Sabha returns “Tax Law (Amendment) Act 2021”

all tax requirements for companies using India Indirect Asset Transfer Legislation 2012 will be withdrawn before May 28, 2012 . On August 9, Rajya Sabha returned a bill aimed at ending all retrospective taxes on indirect transfers of Indian assets in the event of a strike by Congress, TMC and DMK. Now after Rajya Sabha has returned the “Tax (Amendment) Act 2021″, before May 28, 2012, please use the 2012 legislation on Indirect Transfer of Indian Assets to all tax requirements for companies like Kane Energy and Vodafone All be revoked. Lok Sabha passed the bill last week. Previously, Congress, TMC and DMK left the House of Representatives before discussing the bill. In response to the debate, Finance Minister Nirmala Sitharaman said: This [act] is attractive enough to put an end to the specter we have been carrying since 2012 seek. The support of the House of Representatives makes India look like a very clear, transparent and fair taxation land.” The minister also told the House of Representatives that the bill does not provide for the payment of interest on refunds and that parties seeking relief will not seek further relief under these circumstances. Appeal or litigation. In addition to creating uncertainty for investors, in recent months, international arbitration tribunals have revoked retrospective taxation in two high-profile cases: British telecommunications giant Vodafone Group and oil producer Kane Energy. The rules will be formulated in accordance with the law, giving the company a reasonable time to promise the government not to execute these cases.