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Retrospective Tax News

2021- A Year Of Many Firsts For Revenue Dept: Check All

A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for ...

Government Clarifies GST Implication On Different Financial Services Through FAQ

After litigation issues around taxation on free banking services came to the forefront, the government on Sunday cleared the air. Financial services that remain out of GST ambit In the FAQ document released, the government clarifies that free services such ...

10% duty will add to capex burden by Rs 1,000 crore: COAI

Industry body Cellular Operators Association of India (COAI) has said that 10 percent duty imposed on telecom products that fall outside the WTO pact will result in added capex burden of Rs 1,000 crore, while appreciating budget proposals like setting up ...

Arun Jaitley to present maiden Budget amid expectations of tax sops

Finance Minister Arun Jaitley's maiden Budget on Thursday is expected to be a tightrope walk of trying to meet demands for tax sops especially from the middle class and pursuing fiscal prudence to spur investment and growth. The Budget for ...

Is retrospective tax a threat to Foreign Direct Investment?

In calendar year 2011, China attracted foreign direct investment (FDI) to the tune of a staggering $116 billion. India on the other hand is likely to report cumulative FDI inflows for the fiscal 2011-12 of around $36.50 billion. India is ...