Finance Minister Pranab Mukherjee today said the government may clarify its stand on the Vodafone tax controversy in Parliament when the Finance Bill,2012 is under discussion.
“I cannot respond to any speculative questions. Parliament is in session. If anything is to be clarified,I will (do it) only at Parliament at the time of the Finance Bill,” he told reporters here.
He was responding to queries on whether the government would waive the penalty on Vodafone,which may have to pay tax after Parliament approves amendments to Income Tax,1961,with retrospective effect.
Parliament is scheduled to take up the Finance Bill,which contains tax proposals,next week. The Bill was introduced by Mukherjee in Parliament on March 16.
On the General Anti-Avoidance Rules,proposed in the Budget,the minister said he would respond on the issue in Parliament.
Vodafone Group CEO Vittorio Colao had called on Finance Minister Pranab Mukherjee on Tuesday to discuss issues concerning India’s decision to amend the Income Tax Act with retrospective effect and its possible impact on the Rs 11,000 crore tax demand.