-The Hindu Thiruvananthapuram (Kerala): The government is considering a proposal to exempt stamp duty on agricultural loans issued by commercial banks. Finance Minister K.M. Mani told a meeting of the State Level Bankers Committee (SLBC) here on Monday that a decision on the issue would be taken soon after assessing the financial implications. Pointing to the substantial share of commercial banks in primary sector credit, the last meeting of the SLBC had...
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Anu Aga's lone dissent note on excluding political parties from RTI-Kavita Chowdhury
-The Business Standard Says she considers political parties to be public authorities because they get substantive financial funding from the government of India While a parliamentary Standing committee today supported the move to keep political parties outside the ambit of the Right to Information (RTI) Act, committee member Anu Aga, (former chairperson of Thermax Ltd) was the lone voice of dissent on the 29 member panel. Aga who is a nominated member...
More »India's tough stand at WTO conference can ensure food for all
-The Hindustan Times One man's fixation with rules can be another man's lifeline. Many international trade negotiators argue in favour of shooting down subsidies because it ‘distorts' trade. But the simple fact is that in a more-than-a-billion strong nation, in which nearly one in every three lives at subsistence level, one needs an effective and efficient method through which privileged tax payers can support the poor. India has rejected a proposal at the...
More »CAG questions Rs 3,000 crore of investments by two Tata trusts -Josy Joseph
-The Times of India NEW DELHI: A detailed audit by the Comptroller and Auditor General of India of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income Tax Exemptions granted to them. Among them are at least two Tata trusts and a number of state cricket associations. The audit report, one of the first to be signed by the new CAG, S K Sharma,...
More »Rs 3,000cr lost as tax rebates to NGOs, trusts: CAG
-The Times of India NEW DELHI: The government has given away more than Rs 3,000 crore by way of Tax Exemptions to some non-deserving big charitable organizations and trusts. The revelations were made in a Comptroller and Auditor General (CAG) report which was submitted to the government for tabling in the monsoon session of Parliament but it was deferred by the government. Sources said the auditor has covered almost all big trusts and...
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