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Consider the following statements
1. Retrospective taxation is prohibited in the constitution in Article 20.
2. It is used to tax companies which are indulged in tax evasion.
Which of the above statement(s) is are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements1. Retrospective taxation is prohibit...
In News: Parliament recently passed Taxation Laws (Amendment) Bill 2021 to bury retrospective taxation.
Statement 1 is not correct: Article 20 bans retrospective legislation for criminal cases not civil cases. And taxation is a civil pursuit.
Statement 2 is not correct: It is used to tax companies which are indulged in tax avoidance not evasion. Evasion of taxes is already an offence but avoidance is finding legal loopholes and avoiding taxation in a legal way.
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Consider the following statements1. Retrospective taxation is prohibited in the constitution in Article 20.2. It is used to tax companies which are indulged in tax evasion.Which of the above statement(s) is are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
Question Description
Consider the following statements1. Retrospective taxation is prohibited in the constitution in Article 20.2. It is used to tax companies which are indulged in tax evasion.Which of the above statement(s) is are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements1. Retrospective taxation is prohibited in the constitution in Article 20.2. It is used to tax companies which are indulged in tax evasion.Which of the above statement(s) is are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements1. Retrospective taxation is prohibited in the constitution in Article 20.2. It is used to tax companies which are indulged in tax evasion.Which of the above statement(s) is are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
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