On 9 August 2021, India's Rajya Sabha (upper house of parliament) passed the Taxation Laws (Amendment) Bill 2021, which was passed in the Lok Sabha (lower house) on 6 August. As previously reported, the Bill provides important amendments to the Income Tax Act 1961 and the Finance Act 2012 in regard to the taxation of indirect transfers of Indian assets. The key amendment provides for the nullification of the retroactive taxation of indirect transfers according to provisions introduced by the…