{"id":429921,"date":"2021-08-10T10:49:36","date_gmt":"2021-08-10T05:19:36","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=429921"},"modified":"2021-08-10T11:53:27","modified_gmt":"2021-08-10T06:23:27","slug":"upper-house-passes-law-scrapping-retrospective-taxation-amid-walkout","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/upper-house-passes-law-scrapping-retrospective-taxation-amid-walkout\/","title":{"rendered":"Upper House passes law scrapping retrospective taxation amid walkout"},"content":{"rendered":"<p>Parliament on Monday approved a Bill scrapping the controversial and contentious law brought in by the UPA in 2012 to tax companies retrospectively. The Taxation Laws (Amendment) Bill, which got Lok Sabha\u2019s nod last week, was passed by Rajya Sabha through voice vote.<\/p>\n<p>But passage of the Bill was marred by a walkout by the entire Opposition, a move that drew scathing criticism from Finance Minister Nirmala Sitharaman.<\/p>\n<p>The Bill proposes to amend the Income Tax Act, 1961, to effectively end all retrospective taxation imposed on indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012. Sitharaman hoped the law will be \u201cappealing enough\u201d to foreign investors since it puts an end to the \u201cghost which we have been carrying\u2026from 2012\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Parliament on Monday approved a Bill scrapping the controversial and contentious law brought in by the UPA in 2012 to tax companies retrospectively. The Taxation Laws (Amendment) Bill, which got Lok Sabha\u2019s nod last week, was passed by Rajya Sabha through voice vote. But passage of the Bill was marred by a walkout by the entire Opposition, a move that drew scathing criticism from Finance Minister Nirmala Sitharaman. The Bill proposes to amend the Income Tax Act, 1961, to effectively end all retrospective taxation imposed on indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-429921","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=429921"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429921\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=429921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=429921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=429921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}