Retrospectively Scrapping a Retrospective Amendment – Understanding the Underpinnings of the Union Government’s Taxation Laws (Amendment) Bill, 2021
Introduction Retrospective tax can be defined as a tax imposed on a transaction or deal that was conducted in the past. Ideally, a retrospective tax is charged by authorities in order to make adjustments when policies in the past and the present are inconsistent in terms of the amount of tax paid by a particular […]