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Published on 11/08/2021 12:22:52 | Source: ANI

Govt will refund Rs 8000 cr to 4 companies once new taxation laws come into effect: CBDT Chairperson

Posted in Business Videos| #Government

New Delhi : Once the Taxation Laws (Amendment) Bill, 2021 becomes law by early next week, the Government will have to pay Rs 8000 crore to four companies including Cairn Energy, Vodafone, WNS Capital and one more, said Central Board of Direct Taxes (CBDT) Chairperson JB Mohapatra after Taxation Laws (Amendment) Bill, 2021 was passed in Rajya Sabha. The Bill will do away with the retrospective tax provision and end all retrospective taxes imposed on indirect transfer of Indian assets made before May 28, 2012. This means that the tax demands made on companies like Cairn Energy and Vodafone will now be withdrawn. In an exclusive interview to ANI, CBDT Chairperson said, “As far I know, there are four cases. Apart from Cairn Energy, three other cases are WNS capital, Vodafone and there is one more case. So, in total, in excess of Rs 8000 crores will be paid out by way of refund and the refund will be without any interest.”