Cairn Tax Dispute: I-t Dept Confiscates Dividend, Refund

Cairn Tax Dispute: I-t Dept Confiscates Dividend, Refund

The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.

This follows British oil firm losing in an international arbitration tribunal its challenge against India’s I-T department taking coercive action to recover the tax dues. Read more

Credits:economictimes.indiatimes.com

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