Best of BS Opinion: Avoid arbitrary regulation, China's border games & more

Here are the top BS Opinion articles of the day.

After spending nine years trying to defend an indefensible taxation law, the government has introduced a Bill in the Lok Sabha to reduce the chances of retrospective tax demands by the authorities. This is a welcome act and should have been done much earlier, avoiding the humiliations that India has faced in international arbitrations challenging tax demands made under the retrospective clause. The next step, says the top edit, is for the government to be generous in its settlements with the companies that have been affected by an action that it accepts has been counter-productive for India’s development. Read it here

In other views today:

Ajai Shukla takes stock of China’s strategic moves along the borders in Ladakh and Arunachal Pradesh. Read it here

Rathin Roy identifies five ways in which the Covid-19 pandemic has irrevocably changed the world as we know it. Read it here

The second edit says the Reserve Bank of India has offered no clear reason for its attempt to control and reduce the number of current accounts in the Indian banking system. Read it here
 

QUOTE OF THE DAY

 

“The step could help restore India's reputation as a fair and predictable regime apart from helping put an end to unnecessary, prolonged and expensive litigation”

Pranav Sayta, Tax Partner, EY, on the Bill to nullify retrospective tax