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Taxation Laws Amendment Bill 2021 – Explainer

#Watchnow our new #Explainer on the Taxation Laws (Amendment) Bill, 2021, Part 1 by Abhishek Saxena, Co-Founding Partner, Phoenix Legal.

The bill was passed by the Parliament in the recently concluded Monsoon Session. It has done away with the contentious retrospective tax demand provisions. This bill also addresses the inconsistencies with the taxation laws, especially with the tax demands. To bring clarity around the taxations laws, it was crucial to bring this amendment. These amendments will also ease investors apprehensions about investing in India.

India’s dispute with Vodafone and Cairn Energy for tax demands also highlighted the issue of retrospective taxation in India. This bill amends the Income Tax Act, 1961, and provides that no tax demand shall be raised in future on basis of these retrospective amendments. These demands were for any indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012.

#Tuneinnow to watch Part 1 of the #Explainers by Lawwiser where Abhishek takes us through – the provisions of the taxation laws that this Bill seeks to amend – amendment to Section 9 of the Finance Act, 2021 in the aftermath of the Vodafone judgment – actions taken by the authorities after the enactment – how was the move of the authorities received by Vodafone – Cairn Group-India dispute

To get featured in more such conversations, write us on [email protected]

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A Great Beginning: Concept of LawWiser liked by Industry Leaders

On the launch of LawWiser, an online video platform that hosts short format videos on the latest legal and regulatory changes. The legal industry appreciated the idea of creating such an innovative platform and congratulated the team. Many of the legal experts showed great interest in working with the team in the future.

The videos on LawWiser are in the form of explainers (of current laws), a quick take on the latest policy changes and panel discussions by the experts of the industry. These leaders acknowledged that there was a dire need for such an informative product in the industry.

To get featured in more such conversations, write us on [email protected]

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