There has been a sharp sell-off in the equity market since the Budget presentation, with the Nifty declining 7 per cent. It is believed that foreign portfolio outflows from the equity market — triggered by the Budget announcement of a hike in the surcharge on income-tax — is behind the sell-off.

Amit Agarwal, Partner with inputs from Manasvi Gupta and Mansi Jain contributed an article on Brewing of Controversy – Revision of Tax Returns under Amalgamation / Demerger for Taxsutra.

Brewing of Controversy - Revision of Tax Returns under Amalgamation / Demerger - Amit Agarwal