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Retrospective tax

26 Dec 2021

Retro Tax: Cairn drops lawsuits against Indian govt in US, UK

Cairn is in the final stages of withdrawing cases in Paris and the Netherlands. Cairn on November 26 withdrew the lawsuit it had brought in Mauritius. A critical lawsuit in a French court is in the final stages of withdrawal.

Vodafone retro tax

03 Dec 2021

Vodafone files application with govt for settlement of retro tax dispute

The company said it has "always been confident" that no tax is due on the firm. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. Vodafone spokesperson said, "We can confirm we have filed an application".

Cairn Energy Plc

03 Nov 2021

Cairn agrees to withdraw cases against India to get Rs 7,900 crore refund

The government now has to accept this and issue Cairn a so-called Form-II. The form will commit it to refund the tax collected to enforce the retrospective tax demand. Following the issue of Form-II, Cairn will withdraw legal proceedings and will get a refund of Rs 7,900 crore.

20 Mar 2016

Retro tax settlement scheme to open from June 1

Government will open from June 1 its one-time offer to settle retrospective tax disputes involving firms like Vodafone and Cairn Energy after rules are framed for them to pay principal tax and get waiver from interest and penalty

25 Aug 2014

UK Dy PM meets Jaitley, discusses retro tax issue

UK Deputy Prime Minister Nick Clegg Monday met Finance Minister Arun Jaitley and discussed various matters of mutual interest, including the retrospective tax amendment issue.

25 Jul 2014

Retro tax was a retrograde step: Arun Jaitley

He stressed that low taxation is good for the economy and he has tried to pursue it in his budget with a view to giving a fillip to manufacturing sector.

Union Budget 2014-15

10 Jul 2014

Union Budget 2014-15: Govt will not rely on retro tax amendment, says Jaitley

"Will this government rely on retrospective tax legislation. My answer is no."

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