In the ruling administration’s last full budget before India goes to the polls, India’s Finance Minister, Ms Sitharaman, laid out the government’s vision – “Making India a technology-driven and knowledge-based economy with strong public finances, and a robust financial sector.” She identified four transformative opportunities for India: (i) economic empowerment of Women (ii) upliftment of…

Introduction India’s 2021 Finance Bill proposes to add a definition of “liable to tax” in its domestic direct tax law. As per the definition, the term ‘liable to tax’, “in relation to a person, means that there is a liability of tax on such person under any law for the time being in force in…