Jaitley in June The panel had mooted that retrospective amendments to tax laws should be avoided as a principle and that the post of Revenue Secretary be abolished. It had suggested Indian Railways run the corridor for an initial five years, after which private operators could be allowed. The government must do away with the interest subvention scheme and plough back the subsidy into a universal crop insurance scheme for small and marginal farmers, according to a recommendation from a panel constituted by the Reserve Bank of India RBI. The move can transform the agriculture sector and promote financial inclusion, according to the panel headed by Deepak Mohanty, executive director, RBI, said digitisation of land records for clear titles and credit linkage are necessary to establish evidence of cultivation. The committee.

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Panel for Tax on Cash Withdrawal Beyond Certain Limit in a Day Business Wednesday December 3, A high level official panel on Tuesday proposed levying of banking transaction tax on withdrawal of cash beyond a specified limit in a day to check black money and was not in favour tax amnesty scheme.

We have replied that the matter will be dealt with by a competent authority and will go to the Cabinet ," Mr Chidambaram said on Wednesday. Cameron backs Vodafone in tax dispute with India, says system should be fair Business Monday February 18, British Prime Minister David Cameron today threw his weight behind UK telecom giant Vodafone, which is currently locked in a dispute with the Indian government over a tax liability of Rs.

Budget What the financial services sector expects Business Saturday February 16, As the day of presentation of the Union Budget draws closer, it is time for the industry and all stakeholders to reflect on what they expect out of the budget on the taxation front - whether it is specific demands or corrections of anomalies that can help provide a boost to the business sentiments.

The financial services sector will play a crucial Chidambaram said on Monday. Shome panel submits final report on retrospective tax amendments to Finance Minister: top 10 developments Business Thursday November 1, The Parthasarathi Shome committee on Wednesday presented its final report on retrospective tax amendments to Finance Minister P. Chidambaram, sources said. The panel has suggested, among other things, that interest and penalty be waived if tax has been applied retrospectively, as reported earlier.

Sensex to hit in 12 months: Ambit Capital Business Monday October 1, Indian markets have been trading at a month high and there seems to be no letup in the bullish sentiments. A surge in global liquidity flows and a series of reforms unleashed in September have boosted sentiments on the Street. However, the sources termed the reports ill-informed and untrue, adding that the UK major will not settle the dispu



There seems to be a sense of relief, by and large, in MNC and editorial Thus, various Tribunals for income tax matters, railway rates, labour matters, and company courts were given statutory legitimacy to function parallel to ordinary civil courts. Retrospective law changes should not be used, sshome report stressed, to expand the tax base. Therefore, in the interests of certainty and equity, Shome urges the government that prospective application of indirect transfer provisions is more appropriate. December Learn how and when to remove this template message. The decision of the Ombudsman with regard to redressing taxpayer grievances should be binding on tax officers. There should be a separate vertical for delivery of taxpayer services parthasaratui each Board.


Shome Committee


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