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Tax details not out of RTI ambit

-PTI   Information given to income tax authorities by assessees does not come under any fiduciary relationship and cannot be denied to an RTI applicant on this ground, the Central Information Commission has ruled. Hearing the plea of Rakesh Kumar Gupta, who sought information on estimated tax evasion figures, the panel rejected the income tax department’s argument about such a relationship. Information commissioner Annapurna Dixit said the fiduciary relation exists when there is scope...

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Extreme problems don't always need extreme solutions

-The Times of India   The Anna Hazare-led civil society movement cannot be faulted for having come up with its version of the Lokpal Bill, because otherwise it would have been accused of campaigning for something essentially negative - the withdrawal of the flawed government version without putting forward an alternative. Frustration with everyday corruption - as well as the spectacular kind that explodes in the public sphere ever so often (...

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Black money in Swiss banks down 50% since '06

-The Times of India   The information on tax evaders and those who have stashed unaccounted money abroad has started trickling in, with the government admitting for the first time that total deposits of Indians in Swiss banks have come down by more than 50% in the last five years. The total liabilities of Swiss banks towards Indians have declined in the last five years. The deposits of Indians have come down from...

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Tussle over role in black money probe

-The Telegraph   The finance and law ministries have locked horns over who will lead the battle against black money. A meeting of a finance ministry probe team under the chairman of the Central Board of Direct Taxes (CBDT) has been put off indefinitely following a Supreme Court order to set up a special investigative team (SIT), headed by former apex court judge B.P. Jeevan Reddy, to probe illicit funds. While the panel...

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The new land acquisition law must seek to reduce market distortions and segmentation by Bibek Debroy

Land is contentious. With urbanisation and demand for non-agricultural use, coupled with lack of employment and skills for those in small-holder and subsistence-level agriculture, this is understandable. In western Europe, especially in Britain, and more especially in England, land markets were freed up before the Industrial Revolution and access to education and skills became more broad-based. We haven't introduced reforms that enable people to move out of agriculture, or diversify...

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