{"id":54354,"date":"2021-10-04T06:47:06","date_gmt":"2021-10-04T06:47:06","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=54354"},"modified":"2021-10-04T06:47:07","modified_gmt":"2021-10-04T06:47:07","slug":"consider-the-following-statements-with-respect-to-the-taxation-laws-amendment-bill-2021","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/consider-the-following-statements-with-respect-to-the-taxation-laws-amendment-bill-2021\/","title":{"rendered":"Consider the following statements with respect to the \u2018Taxation Laws (amendment) Bill, 2021\u2019:"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Consider the following statements with respect to the \u2018Taxation Laws (amendment) Bill, 2021\u2019:<\/h2>\n\n\n\n<p>1. The notification of the bill is respected to end the much stretched tax disputes with UK\u2019s Cairn Energy and Vodafone Ple.<\/p>\n\n\n\n<p>2. The Bill has amended the Income Tax Act, 2000.<\/p>\n\n\n\n<p>Choose the correct statement\/s given above.<\/p>\n\n\n\n<p>A. 1 Only<\/p>\n\n\n\n<p>B. 2 Only<\/p>\n\n\n\n<p>C. Both 1 &amp; 2<\/p>\n\n\n\n<p>D. None<\/p>\n\n\n\n<p><strong>Answer:<\/strong> 1 Only<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Explanation:<\/h3>\n\n\n\n<p>The Taxation Laws (amendment) Bill, 2021 has amended the Income Tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 \u2013when the finance bill was passed by the Parliament in 2012.<\/p>\n\n\n\n<p><strong>UPSC Daily Current Affairs Quiz Test 4 October 2021 <\/strong><a href=\"https:\/\/www.gkseries.com\/blog\/upsc-daily-current-affairs-quiz-4-october-2021\/\"><strong>Click Here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consider the following statements with respect to the \u2018Taxation Laws (amendment) Bill, 2021\u2019: 1. The notification of the bill is respected to end the much stretched tax disputes with UK\u2019s Cairn Energy and Vodafone Ple. 2. The Bill has amended the Income Tax Act, 2000. Choose the correct statement\/s given above. A. 1 Only B. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":54347,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1863],"tags":[],"class_list":["post-54354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-upsc-ca-quiz"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=54354"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54354\/revisions"}],"predecessor-version":[{"id":54358,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54354\/revisions\/54358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/54347"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=54354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=54354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=54354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}