Lok Sabha clears Bill to end retrospective tax, Congress backs move

Backing the government's move, former Union Finance Minister P Chidambaram tweeted, "I am glad that we have put an end to an issue that has been troubling us for eight years"

A Bill to end all retrospective taxation imposed on indirect transfer of Indian assets was passed by the Lok Sabha on Friday even as the Opposition continued protests against the alleged snooping through the Pegasus spyware and other issues. The government’s move to scrap the tax law, however, found support from an unlikely corner — the Congress.
 
Union Finance Minister Nirmala Sitharaman described the 2012 legislation as “bad in law and bad for the investors’ sentiments” and said there were 17 litigations due to the retrospective tax law and even the Supreme Court had said in 2012 that the