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Taxation Laws (Amendment) Act, 2021 – An analysis

Income Tax : An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and...

January 29, 2022 13785 Views 0 comment Print

Understanding Vodafone Tax Dispute & Changing Dynamics of Indian Tax Laws

Income Tax : During the years 2007 to 2008, India witnessed an immense hike of Foreign Direct Investments (FDI) in its Telecommunication Indust...

October 17, 2021 3792 Views 0 comment Print

What was Cairn-Vodafone tax dispute with Government of India regarding Retrospective Tax ?

Income Tax : The Indian government in Budget 2012-13, amended the Income Tax Act, 1961 to retrospectively tax cross-border transactions in whic...

September 14, 2021 3726 Views 0 comment Print

Amendment to Retrospective Tax Regime: A Long Overdue Respite to Firms

Income Tax : The Central government on 5th August introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, to repeal the Retrospec...

September 3, 2021 2784 Views 0 comment Print

Taxation Laws (Amendment) Bill, 2021 – Analysis

Income Tax : ‘THE TAXATION LAWS (AMENDMENT) BILL, 2021‘ introduced in Lok Sabha on 05th August 2021 (passed on 06th August 2021) pr...

August 9, 2021 6714 Views 0 comment Print


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Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...

August 13, 2021 1407 Views 0 comment Print

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...

August 11, 2021 1335 Views 0 comment Print

Govt. accepts Order of Bombay HC in Vodafone case

Income Tax : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the H...

January 29, 2015 13685 Views 0 comment Print

Why Govt withdraws Conciliation Measures Initiated Earlier with Vodafone

Income Tax : Correct Factual Position and the Circumstances that led to the Government’s Proposal to Withdraw from the Conciliation Measures ...

May 14, 2014 1602 Views 0 comment Print

Vodafone issues notice to Indian government over violation of Investment Protection Treaty

Income Tax : Vodafone has issued notice to the Indian government under Bilateral Investment Protection Treaty over tax issue between India and ...

April 17, 2012 1147 Views 0 comment Print


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Taxation Laws (Amendment) Act, 2021

Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...

August 14, 2021 3621 Views 0 comment Print

Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, ...

August 5, 2021 7920 Views 0 comment Print


Latest Posts in vodafone essar

Taxation Laws (Amendment) Act, 2021 – An analysis

January 29, 2022 13785 Views 0 comment Print

An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and Finance Act.

Understanding Vodafone Tax Dispute & Changing Dynamics of Indian Tax Laws

October 17, 2021 3792 Views 0 comment Print

During the years 2007 to 2008, India witnessed an immense hike of Foreign Direct Investments (FDI) in its Telecommunication Industry. The Indian telecom industry generated revenues of approximately 32 billion US Dollars in 2007-08 with a growth rate of 60 percent[1] over the previous financial year. The industry further witnessed a Compound Annual Growth Rate […]

What was Cairn-Vodafone tax dispute with Government of India regarding Retrospective Tax ?

September 14, 2021 3726 Views 0 comment Print

The Indian government in Budget 2012-13, amended the Income Tax Act, 1961 to retrospectively tax cross-border transactions in which the underlying assets are located in India by which all persons, whether resident or non-residents, having a business connection in India, were required to deduct tax at source, even if the transaction was executed on a foreign soil.

Amendment to Retrospective Tax Regime: A Long Overdue Respite to Firms

September 3, 2021 2784 Views 0 comment Print

The Central government on 5th August introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, to repeal the Retrospective legislation on indirect transfer tax. The Finance Ministry had presented a bill to encourage greater overseas investment into India, which is being hailed as a welcome respite for firms that have long invested in […]

Draft rules for amendments by Taxation Laws (Amendment) Act, 2021

August 28, 2021 1065 Views 0 comment Print

No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012 (i.e., the date on which the Finance Bill, 2012 received the assent of the President).

Taxation Laws (Amendment) Act, 2021

August 14, 2021 3621 Views 0 comment Print

In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— “Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made under section 143, section 144, section 147 or section 153A or section 153C; or (ii) an order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154; or

Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

August 13, 2021 1407 Views 0 comment Print

Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be raised in the future based on the retrospective amendment made through Finance Act, 2012, for any indirect transfer of Indian assets if the transaction was undertaken before 28th May 2012. 2. Provides that the […]

Vodafone Idea gets further stay against demand

August 12, 2021 3054 Views 2 comments Print

Vodafone Idea Limited Vs DCIT (ITAT Mumbai) In this case Learned Departmental Representative could not disputed the proposition that hearing of the appeal after the last stay could not take place because of no fault of the assessee. Accordingly, we extend the stay for a period of six months from the date of this order […]

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

August 11, 2021 1335 Views 0 comment Print

The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act, 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Taxation Laws (Amendment) Bill, 2021 inserted three provisos (Fourth, Fifth, and Sixth Proviso) in Explanation 5 to Section 9(1)(i) to give relief to […]

Taxation Laws (Amendment) Bill, 2021 – Analysis

August 9, 2021 6714 Views 0 comment Print

‘THE TAXATION LAWS (AMENDMENT) BILL, 2021‘ introduced in Lok Sabha on 05th August 2021 (passed on 06th August 2021) proposes to amend the Income Tax Act, 1961 and the Finance Act, 2012 to scrap the effect of RETRO TAX amendment which took place in the year 2012 after Supreme Court judgement dated 20th January 2012 […]

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