-Macroscan.com In his speech introducing the 2012-13 budget, the then Finance Minister Pranab Mukherjee had declared his intention to introduce a General Anti-Avoidance Rule (GAAR) to counter ''aggressive tax avoidance schemes''. What GAAR means is that even if a transaction appears to be legally valid, if it is entered into for the sole purpose of tax avoidance, then the Indian tax authorities can deny tax benefit to the concerned entity. GAAR...
More »SEARCH RESULT
Total Matching Records found : 278
Gujarat Congress promises 100 yard plots, soft loans for rural poor
-The Business Standard The Gujarat Pradesh Congress Committee (GPCC) on Wednesday announced that it would provide 100 yard plots to landless and homeless families in rural areas of the state, if the party was voted to power during the assembly elections to be held in December this year. This announcement is part of the Congress's poll campaign 'Gujarat Praja Vikas Darshan 2012'. GPCC president Arjun Modhvadia said claimed that the Narendra Modi...
More »How the political class has looted India-AG Noorani
-The Hindu “Study these four men washing down the steps of this unpalatable Bombay hotel. The first pours water from a bucket, the second scratches the tiles with a twig broom, the third uses a rag to slop the dirty water down the steps into another bucket, which is held by the fourth. After they have passed, the steps are as dirty as before… They are not required to clean,” but...
More »Extending RTI Act to public sector banks involves systemic risk-MR Umarji
-The Economic Times The main objective of the Right to Information Act, 2005, is to provide access to information in order to promote transparency and accountability in the working of every public authority. The RTI Act defines 'public authority' as anybody or authority constituted by law made by competent legislature and includes anybody owned, controlled or substantially financed directly or indirectly by funds provided by the government. While deciding the status of any...
More »Unfair Tax: Mandi tax on grain procurement offers some states a double privilege
-The Economic Times State levies on grain purchase by the Food Corporation of India (FCI) will reportedly push up the Centre's food subsidy bill by Rs 10,000 crore this fiscal year. This is absurd and untenable. High taxes and commissions - 14.5% in Punjab and 10.5% in Haryana - on the minimum support price (MSP) of grain jack up the costs of procurement, drive private trade out of these markets, and set...
More »
