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Oct 27, 2014
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Narendra Modi govt mulls prospective change in tax law after Vodafone's court victory
The Narendra Modi government has been keen to disavow the legacy of the retrospective amendments to tax laws that have drawn flak from global investors and asserted the tax policy would now be non-adversarial and bereft of uncertainty. However, it doesn’t seem to walk the talk. Telecom giant Vodafone’s court victory earlier this month in a share valuation tax dispute is set to pave the way for another major amendment to the Income Tax Act – this time, only with prospective effect.
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http://www.financialexpress.com
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