Top headlines: Govt buries retro tax; Cipla Q1 net profit rises 24%

Business Standard brings you the top headlines on Thursday

Govt to amend Income Tax Act to nullify retrospective tax demands

After Vodafone and Cairn Energy setbacks, Union government on Thursday moved to end retrospective tax by amending Income Tax Act.

Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha, which seeks to withdraw tax demands made on indirect transfer of Indian assets prior to May 28, 2012. Read more

Cipla's Q1 PAT grows 24% to Rs 715 crore riding on domestic sales

Mumbai-headquartered Cipla posted a 24 per cent growth in profit after tax (PAT) to Rs 715 crore for the