Union Budget 2012 and its implications for Vodafone

'Validation Clause' introduced, could spell trouble for Vodafone
The Finance Bill has provided a Validation Clause, for validation of demands raised under the Income-tax Act in respect of income accruing or arising, through or from transfer of a capital a...
GAAR provisions nullify Vodafone ruling, panel of CITs to confirm any ruling
The definition of ‘impermissible avoidance arrangement’ in the Finance Bill and the DTC Bill is the same. The consequences of invoking GAAR are different than those proposed in the DTC and...
Offshore Share Transactions Taxable; Sec 9 amended retrospectively
Amendment clarificatory, effective from 1962; Any share or interest in a company outside India deemed to be situated in India if share or interest derives, directly or indirectly, its value substantia...