India's has assured investors that the Income Tax department will not re-open deals that have been finalized before April 1, 2012 for enforcing changed retrospective amendment proposed in the Finance Bill, 2012.

He also said that the I-T department has also removed multi-level tax deducted at source (TDS) on software distributors in the country. The Central Board of Direct Taxes (CBDT) has already asked all the chief commissioners of income tax and directors general of international taxation not to reopen proceedings finalized before April 1, 2012.

However, the changes will affect about 10 cases that are pending at various levels. These include Euro Pacific Securities Ltd, Cairn UK Holding Ltd, Unilever HPC Finance Service Inc. USA, Accenture Services Pvt Ltd, Tata Industries Ltd and AT&T, Mcleod Russel India, SAB Miller (A&A), and Sanofi Pasteur Holding SA.

"I gave a commitment in Parliament with regard to retrospective amendments that CBDT will issue a policy circular to clarify that in cases where assessment proceedings have become final before first day of April 2012, such cases shall not be reopened," Mukherjee said.

The government is estimated to generate about Rs 15,000 crore from the changes to the law.