Retro Tax Withdrawal: No Major Cost To Exchequer
The Morning Standard|August 06, 2021
Total refund could be around ₹8,000 cr in 17 cases, say govt officials
Retro Tax Withdrawal: No Major Cost To Exchequer

Would the government’s move to withdraw retrospective tax on capital gains arising out of indirect transfer of assets located in India before May 2012 have an adverse impact on the government exchequer?

Sources from the finance ministry as well tax department say that the total refund amount could be around ₹8,000 crore as tax demands were raised in only 17 cases — with maximum demand raised from Vodafone and Cairn energy. While Vodafone had not paid any taxes against the demand raised, Cairn Energy had paid around ₹ 7,000 crore against tax demand of over ₹12,500 crore.

This story is from the August 06, 2021 edition of The Morning Standard.

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This story is from the August 06, 2021 edition of The Morning Standard.

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