Sec 2 , Sec 9 and Sec 195 have been amended and it clarifies “ Property includes any rights in or in relation to an Indian company,including rights of management or control or any other rights whatsoever. This was retrospectively ammended from 01.04.1962. This ll open up VODOFONE case . Sec 10 D and 80 C : any sum received under an insurance policy issued on or after the 1st day of April, 2012 in respect of which the premium payable for any of the years during the term of the policy exceeds ten per cent. of the actual capital sum assured
The government today maintained it has not come out with any kind of Voluntary Disclosure of Income Scheme (VDIS) by proposing changes in the Income Tax Act, which experts believe are some sort of concessions to tap black money.
