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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


Latest News


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 makes no provision for Hutch deal tax claim

Income Tax : British telecom giant Vodafone has decided against making a provision in its balance sheet for the over Rs 11,000 tax claim made b...

November 18, 2012 607 Views 0 comment Print


Latest Notifications


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


Post Finance Bill approval Vodafone have to pay tax – Finmin

March 21, 2012 537 Views 0 comment Print

Vodafone will have to pay over Rs 11,000 crore tax, once the amendment to change the Income Tax Act is approved by Parliament, a Finance Ministry official said today.As per finance Ministry official Vodafone have to automatically pay the tax after approval of the amendments to the Finance Bill by Parliament and they don’t need to send fresh tax demand notice to them.

Govt amends IT Act w.e.f. 01.04.1962 to bring deals like Vodafone Under Tax Net

March 17, 2012 1212 Views 0 comment Print

It is, proposed to amend the Income Tax Act in the following manner:- (i) Amend section 9(1)(i) to clarify that the expression ‘through’ shall mean and include and shall be deemed to have always meant and included by means of, in consequence of or by reason of. (ii) Amend section 9(1)(i) to clarify that an asset or a capital asset being any share or interest in a company or entity registered or incorporated outside India shall be deemed to be and shall always be deemed to have been situated in India if the share or interest derives, directly or indirectly, its value substantially from the assets located in India.

Budget 2012- Government may bring provisions to tax overseas deals

January 26, 2012 543 Views 0 comment Print

To avoid disputes like the Vodafone tax case in future, government is contemplating incorporation of provisions on taxation of overseas deals from the stalled Direct Taxes Code (DTC) Bill in the Budget for 2012-13.

Vodafone ruling effect – Exporters question TDS on foreign payment post

January 25, 2012 1947 Views 0 comment Print

The Supreme Court judgement on Vodafone tax case seems to have opened a Pandora’s box with exporters too expressing reservation on tax deducted at source (TDS) for payment with regard to overseas transactions. Exporters’ body FIEO today questioned the applicability of Section 195 of the Income Tax Act, under which they are asked to pay TDS on payments made for foreign agency commissions, royalties and offshore professional services.

Vodafone taxation case – I-T dept may not file review petition

January 24, 2012 675 Views 0 comment Print

The income tax department may not go in for filing a review petition on the Supreme Court’s judgement on the Vodafone taxation case. Top sources in the department said that a 10-member ‘core committee’, which has been specially constituted, will go into the details of the order. But the department may take a view not to file a review petition against the order which was delivered by a three-member Supreme Court bench headed by Chief Justice S H Kapadia on Friday, the sources said.

Analysis of SC judgment in the case of Vodafone International Holdings B.V. Vs. UOI

January 23, 2012 7253 Views 0 comment Print

Vodafone International Holdings B.V. (VIHB), a Dutch based Vodafone entity, acquired a controlling stake in Hutchison Essar Limited [(HEL), now known as Vodafone Essar Limited VEL)], an Indian company, from Cayman Islands based Hutchison Telecommunications International Limited (HTIL) by acquiring shares of CGP Investment (CGP), a Cayman Islands company [which belonged to (HTIL)] in February 2007. CGP held various Mauritian companies, which in turn held a majority stake in HEL.

Pranab, Khurshid meet over Vodafone tax ruling issue

January 22, 2012 1165 Views 0 comment Print

Government went into a huddle following a far-reaching Supreme Court judgement in the Vodafone case having revenue implications of about Rs 11,000 crore.Immediately after pronouncement of the SC ruling, Finance Minister Pranab Mukherjee and Law Minister Salman Khurshid held consultations on the issue. Cabinet Secretary Ajit Kumar Seth too called on the Finance Minister.

Vodafone wins $2.50 billion tax case tax case in Supreme Court

January 20, 2012 7144 Views 0 comment Print

In a 2.5 billion dollar sigh of relief for Vodafone, and for other companies eyeing assets in India, the Supreme Court has ruled in favour of Vodafone. The court has said that the Indian tax department cannot tax the transaction that saw Vodafone acquire 67 per cent stake in Hutchison Essar, a mobile phone operator in India in 2007. The deal was for 55,000 crores or $11.5 billion.

SC may pronounce its judgement on Vodafone today

January 20, 2012 672 Views 0 comment Print

The Supreme Court will on Friday pronounce its judgement on Vodafone International Holdings’ appeal challenging the income tax demand of Rs 11,000 crore on the overseas deal between Vodafone and Hutchison. Vodafone had moved the apex court challenging the Bombay High Court judgement of September 8, 2010 which had held that Indian IT department had jurisdiction over the deal.

Vodafone to list its shares in India

January 16, 2012 906 Views 0 comment Print

UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans.