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Decision on retro tax before budget

HT Correspondent, Hindustan Times  New Delhi, October 08, 2012
First Published: 20:51 IST(8/10/2012) | Last Updated: 00:51 IST(9/10/2012)

In a move that is likely to soothe frayed nerves of investors, finance minister P Chidambaram on Monday hinted the government would amend the clause that allows retrospective taxation of corporate deals before the budget in February. “Once we take a view (on Shome panel report), I see no reason why we should wait for the budget session. We should move whatever changes have to be brought about in Parliament as early as possible,” Chidambaram said.

The Parthasarathi Shome-panel has submitted its final recommendations on contentious clause included in this year’s Finance Act last week.

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