Cairn Energy 1.62 GBP -0,61% 

Law ministry notifies retro tax abolition Bill

The ministry of law and justice has notified the Taxation Laws (Amendment) Act, 2021 that allows amicable settlement of 17 tax disputes arising from retrospective use of an anti-evasion provision introduced in 2012.

Tata Group Seeks to Settle Tax Disputes With Government, ET Says

(Bloomberg) — Tata Group is among five companies looking to settle disputes with the Indian government after the nation abolished a rule on retrospective…

Secretary Bajaj: India in Talks to Settle Tax Row

India's lower house has passed a bill to scrap a tax rule that triggered billions of dollars of arbitration battles with global companies including Vodafone Group Plc and Cairn Energy Plc, spooked potential overseas investors and dented the reputation of Asia’s third-largest economy. India's Revenue Secretary Tarun Bajaj denies speculation that the decision was a form of settlement. He then adds that the government is in talks with the companies to settle the dispute. (Source: Bloomberg)

India’s sovereign right to tax intact after amendment: FM

The comments came as the Rajya Sabha passed a bill scrapping retrospective amendment

Sale Of Cairn Shares By Govt A Bad Decision?

The tax department reasoned the decision to the fact that Cairn had begun the process to sell its residual stake in 2014 and the company would have fled the country after that, leaving no avenues to recover the levy., , tax department, sales, share, cairn

Govt reaches out to Cairn, other companies

Hopes to end all disputes and pay refund by fiscal-end

Sale of Cairn shares by govt a bad decision?

On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India.

Decision to get rid of retro tax shows govt's commitment, policy consistency: PM Modi

India Business News: A day after taking the bold decision to scrap all retrospective tax demands and refund money collected, Prime Minister Narendra Modi on Friday said th

India to refund ₹ 8,100 crore in retrospective tax cases: Revenue Secy

Out of the total 17 tax disputes resulting from the 2012 tax law change that made offshore sale of Indian businesses taxable in India, only four or five entails a refund requirement

Tap opportunities in post-COVID world to take exports to $400 bn, says PM Modi

Prime Minister also suggested the Indian Missions abroad to look at products in their respective countries that India can export.

India's U-turn on retrospective tax: Cairn Energy remains cautious

Would like to discuss it with the government first and respect the process of Bill passing: Sources

Lok Sabha passes taxation amendment bill, scrapping of retro tax law

In 2012 the Supreme Court ruled that such income is not taxable under the existing provisions of the income tax Act. Consequently, the Finance Act of 2012 amended the income tax Act 1961 with retrospective effect to clarify that such income is taxable. The Finance Act 2012 also provided that the demand raised for this income shall be valid even if the said demand has been struck off by the Courts.

Govt buries retrospective tax, introduces Bill to amend Income Tax Act

Read more about Govt buries retrospective tax, introduces Bill to amend Income Tax Act on Business Standard. Bill to scrap the law tabled; proposed refund at around Rs 8,100 crore

Bill to nullify retro tax to boost investors' confidence: Revenue Secy

The bill provides for the withdrawal of tax demand made on indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012

Taken Note Of Retrospective Tax Changes Proposed By India, Says Cairn Energy

Cairn Energy Plc, embroiled in a tax dispute with the Indian government, said it has taken note of the Taxation Laws (Amendment) Bill 2021 introduced in Indian Parliament proposing certain changes to retrospective taxation measures.

“We are monitoring the situation and will provide a further update in due course,” the company said in a statement on its website on Thursday.

Bill to nullify retro tax to boost investors' confidence, says Revenue Secy

Read more about Bill to nullify retro tax to boost investors' confidence, says Revenue Secy on Business Standard. The bill introduced in Parliament to withdraw all retrospective tax demands will give confidence to the investor community regarding India's stable tax regime, Revenue Secretary Tarun Bajaj said

Government introduces Bill in Lok Sabha for settlement with Cairn, Vodafone

The Taxation Laws (Amendment) Bill, 2021 proposes that no tax demand shall be raised in future on the basis of the controversial 2012 amendment to the tax law that targeted offshore sale of Indian assets if the deal was done before 28th May, 2012

Centre introduces bill to bury retro tax demands, Cairn, Vodafone could get refunds

Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha which seeks to withdraw tax demands made on indirect transfer of Indian assets prior to May 28, 2012.

Eni Makes New Oil Find Offshore Mexico

Eni (NYSE: E) has announced a new oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10, offshore Mexico.

Cairn dispute: Finmin confirms French court order to freeze Indian assets in Paris

“An order has been passed by a French court freezing certain Indian government properties in the case pertaining to Cairn Energy,” minister of state for finance Pankaj Chaudhary told Rajya Sabha in a written reply. “For handling enforcement proceedings, an international law firm, with relevant experience, has been engaged. In consultation with its counsel team, the government is taking all appropriate legal steps to protect its interest.”