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Aug 28, 2014
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Govt for keeping retro tax panel’s remit under wraps
The finance ministry has decided to not to announce the terms of reference of the proposed high-level committee on retrospective taxation to avoid any controversy on trying to infringe upon field officers’ authority and discretion in selecting cases for investigation.
Sources said the ministry is considering if a minimum amount should be specified as tax sought to be avoided in an offshore transaction for the department to invoke the provisions relating indirect transfers of Indian assets and raise a tax claim.
Source -
http://www.financialexpress.com
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