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Centre Releases Draft Rules For Withdrawal of Retrospective Tax Demands

Centre has come out with draft rules on withdrawal of retrospective tax demands from companies
Centre has come out with draft rules on withdrawal of retrospective tax demands from companies
Days after bringing in the Taxation Laws (Amendment) Act 2021 - which scraps the rule that empowered the government to retrospectively (going as far back as 50 years) impose capital gains tax on assets located in the country but whose ownership had changed abroad - the Centre has released draft rules for the legislation.
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