No retro tax legislation |
Indian Finance Minister Arun Jaitely said during his visit to London on March 15th that the Indian government did not favor retrospective legislation on tax issues. On the issue of Cairn Energy and Cairn India, he said any grievance against the legacy issues of the previous government had to move through a process. India is back on the radar of international investors, said Jaitley, adding wherever a judicial process had decided an issue, the government chose not to challenge it. On the issue of fresh notices or action, any assessing officer would have to have the clearance of the Central Board of Direct Taxes, and legacy claims and notices would be sorted through due judicial process. Jaitley had meetings in London with British Prime Minister David Cameron and Chancellor of the Exchequer George Osborne. He said India was confident of GDP growth of 7.4% this year and 8% next year.
|
|
|
|