Thursday, August 5, 2021

FM introduces TLA Bill, 2021; no tax on indirect transfer of Indian assets made before 28-05-2012

The Finance Minister, Smt. Nirmala Sitharaman has introduced, the Taxation Laws (Amendment) Bill, 2021, in the parliament to amend the income-tax Act, 1961 and the Finance Act, 2012. The Bill proposes to amend the section 9 so as to provide that no tax demand shall be raised in future on the basis of the retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28-05-2012

from taxmann.com News https://ift.tt/3jtuTLW
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