Page 3 - Tax Reforms

Dangers of a wrong diagnosis

Indirect taxes are now higher than direct taxes. But cutting indirect tax rates to address this will amount to barking up the wrong tree

Best of BS Opinion: Seal a tax deal, the road ahead for SBI, and more

Here are the best of Business Standard's opinion pieces for Monday

Best of BS Opinion: Structural weakness, the mirage of self-reliance & more

Here are the best of Business Standard's opinion pieces for Friday

Oil's new challenge for tax reforms

With the Centre increasing reliance on tax revenue from oil, the inclusion of petrol and diesel under GST can be problematic

Budget 2021: Easier compliance, tax administration to boost revenue

The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling

Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

Direct tax compliance set to be made easier in upcoming Budget

Budget may resolve issues related to administration

Delhi govt may introduce new tax reforms, enforcement measures: Sisodia

The study aims to help improve governance and public service delivery in Delhi while making tax compliance easy, Sisodia, who is also the finance minister

India has shifted from tax terrorism to tax transparency, says PM Modi

'We are reforming rules and procedures and using technology,' PM said

67% MNCs see India among top choices for FDI, says CII-EY survey

Respondents cite country's market potential, skilled workforce and political stability as three key factors, along with cheap labour, policy reforms and availability of raw materialsIndia has emerged

Explained: How Modi's tax reforms will benefit both taxpayer and I-T dept

Your guide for Modi's taxpayers' charter and its benefits

PM Modi to launch 'transparent' scheme tomorrow to honour honest taxpayers

In the Budget, Finance Minister Nirmala Sitharaman had announced that CBDT will adopt a "taxpayer charter" which will ensure trust between a taxpayer and the administration

Reimagining GST for the post-Covid era

Revival of economic activity should overwhelm its agenda

Former PM Manmohan Singh says Modi govt doesn't acknowledge slowdown

Singh said while an annual gross domestic product growth of 8 per cent was achievable; it required a rethinking about the role of fiscal policy, and bolder tax reforms.

'Paradigm shift in taxation': I-T launches faceless e-assessment scheme

To begin with, 58,322 income tax cases have been selected under the National e-Assessment Center (NeAC), officially launched by Revenue Secretary Ajay Bhushan Pandey

Direct tax code panel calls for branch profit tax on foreign companies

Suggests bringing corporation tax rate on a par with domestic companies

Managing offshore funds from India needs tax reforms

The private equity industry is largely not expected to benefit as yet from the safe harbour rules

Wider tax net

But immunity schemes yield insignificant benefits

Letters: Follow guidelines

With reference to the editorial, "Hasten tax reforms" (June 21), while unnecessary appeals must be avoided, the suggestion for abolishing revenue collection targets is neither possible nor desirable.A finance minister should necessarily undertake a comprehensive exercise of arriving at an estimated revenue, both from tax and non-tax sources vis-a vis the estimated expenditure in the ensuing financial year, while presenting his annual Budget. However, it is erroneous to assume that such an estimate will remain unchanged during the entire year. Depending on the trend of revenue collection and relevant factors, such targets are periodically revised by the Department of Revenue.The observation that "it is time the revenue department used more data instead of using blunt methods of harassment" is too sweeping, uncharitable and contrary to facts. While there could be instances of the department raising untenable demands, these are exceptions rather than the norm. Often such demands are issue

Hasten tax reforms

Abolish revenue collection targets & avoid unnecessary appeals