Nirmala Sitharaman says rules on retro tax to be framed soon

Nirmala Sitharaman says rules on retro tax to be framed soon

Finance minister Nirmala Sitharaman on Monday said the rules that will lead to the scrapping of the retrospective tax demands made on companies such as Cairn Energy Plc and Vodafone Plc will be framed soon. Earlier this month, Parliament passed a bill to scrap a rule that gave the tax department power to go 50 years back and slap capital gains levies.