-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...
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Political donations to get transparent
-The Times of India MUMBAI: India Inc has had to wait for nearly three years for the government to roll out the rules relating to the functioning of electoral trusts. The rules have been recently notified and come into effect from January 31, 2013. The 2009 Budget had introduced provisions relating to electoral trusts in the Income-tax Act. It provided for tax exemption to electoral trusts which distribute contributions to political parties,...
More »Shell India accused of tax evasion-Utpal Bhaskar, Remya Nair and Amrit Raj
-Live Mint Income-tax department says firm had underpriced intragroup share transfer by Rs 15,000 cr and evaded taxes consequently The Indian arm of Royal Dutch Shell Plc , Shell India Pvt. Ltd, has been accused by the income-tax (I-T) authorities of underpricing an intragroup share transfer by ` 15,000 crore and consequently evading taxes, said a person familiar with the development. Following the notice, which is one of the biggest transfer pricing orders...
More »No sweetening this bitter pill-K Sujatha Rao
-The Hindu Unless the government regulates the growth of the private sector and makes it accountable, the worn-down public health infrastructure cannot be revitalised The absence of a well thought out policy framework for strengthening the health system is the most important issue facing the health sector in India. In the government, there is no clarity on what the nation’s health system should be 10 years hence. Should it be a public...
More »Understanding FDI in Retail: What Can Economic Principles Teach Us? -Abhirup Sarkar
-Economic and Political Weekly The recent debate on the acceptability of foreign direct investment in the retail sector in India has been mostly political. It is necessary to look into the pros and cons of FDI in retail from a purely economic point of view. This article identifi es the safeguards that should be undertaken before allowing giant multinationals to function in the country. Abhirup Sarkar (abhirup@isical.ac.in) is with the Indian Statistical...
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