Decision on retro tax before budget

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. HT reports.

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.

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