Govt notifies rules for settling Cairn Energy, Vodafone tax cases

The Income-tax (31st Amendment) rules, 2021, which set the conditions for settlement of cases, takes effect this October

Govt notifies rules for settling Cairn Energy, Vodafone tax cases

The Finance Ministry on Oct 1 notified the changes to Income Tax rules that now officially repeal retrospective tax more than nine years after they came into force.

The Centre on Saturday notified ground rules for settling 17 tax disputes with multinational companies like Cairn Energy Plc. and Vodafone Plc. that involved use of an anti-abuse provision introduced in tax laws in 2012 on past transactions.