Tax alert: Exemption for small shareholders for indirect transfer provisions, to apply retrospectively has been saved
Article
Tax alert: Exemption for small shareholders for indirect transfer provisions, to apply retrospectively
21 March 2024
The Delhi High Court has rendered its decision that Explanations 6 and 7 to section 9(1)(i) of the Income-tax Act 1961 (ITA) [relating to exemption provided to small shareholders from applicability of indirect transfer provisions], inserted vide Finance Act 2015, would apply retrospectively i.e. from 1 April 1962.
