RETROSPECTIVE APPLICATION OF TAX LAWS IN INDIA

AUTHOR – JANANI A, STUDENT AT THE TAMIL NADU DR AMBEDKAR LAW UNIVERSITY

BEST CITATION – JANANI A, RETROSPECTIVE APPLICATION OF TAX LAWS IN INDIA, ILE LEX SPECULUM (ILE LS), 1 (1) OF 2023, PG. 448-450, APIS – 3920 – 0036 | ISBN – 978-81-964391-3-2.

ABSTRACT

Taxes are the consideration given by the taxpayer (an individual) for the benefits of the economy which is provided by the government. The tax aims to provide economic stability and promote the income of the nation. The retrospective introduction has amendments in tax law that create obligations in the past. It is used by the Indian government to reduce or overthrow judicial decrees and biased tax duties.

Keywords: tax, retrospective, amendment, government policy, past transaction.