The Government retracts on the retrospective amendments made for taxing indirect transfers
The Taxations Laws (Amendment) Bill, 2021 received the President’s assent on August 13, 2021. The Taxation Laws (Amendment)
Act, 2021 (hereinafter referred to as ‘the Amendment Act’) abolishes the applicability of amendments retrospectively, which were
made applicable to tax the indirect transfer vide the Finance Act, 2012.