-NDTV (With inputs from agencies) As ATMs ran dry in several parts of the country, finance minister Arun Jaitley said the shortage is temporary and is being tackled quickly. New Delhi: In response to reports that ATMs in several states are running dry, Finance Minister Arun Jaitley today conceded a "temporary shortage in some areas" and said it was being "tackled quickly". The Reserve Bank of India said the shortage...
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What demonetisation did to tax collections -Aarati Krishnan
-The Hindu It has sharply lifted tax buoyancy and ushered many new return filers into the Income Tax net The argument about whether demonetisation was good or bad for the economy refuses to die down even a year after the event. Former RBI Governor Raghuram Rajan took potshots at it in a recent speech. While one can endlessly debate, with very little data, on whether the ban on high-value currency notes dealt a...
More »Fund fight: Why population became a sticking point for Centre and states
-The Times of India • What does the Finance Commission do? In India’s federal structure, taxation powers and obligations for various services — like law and order, health, education — are unequally shared between the Centre and the states. Hence, the Constitution mandates the setting up of a Finance Commission (FC) every five years to recommend how revenues from central taxes should be shared between the Centre and the states. A fair...
More »'Parents in unclean job?' Haryana govt asks students
-The Times of India GURGAON: The Haryana government has kicked off a row by circulating an admission form in government and private schools across the state that seeks to know if the student suffers from genetic disorders or whether the parents are engaged in any “unclean occupation”. The form with 100 sub-heads given to students across the state, including Gurgaon, also seeks Aadhaar and PAN numbers, religion, caste, income and bank account...
More »Tax reason for Aadhaar
-The Telegraph New Delhi: The Centre on Tuesday told the Supreme Court that the mandatory linking of Aadhaar with bank accounts and PAN cards was intended to screen genuine tax payers from dishonest elements evading taxes. The government made the comments while trying to allay fears that people could be harassed for money-laundering offences. Appearing for the Centre and the Aadhaar-issuing Unique Identification Authority of India, additional solicitor-general Tushar Mehta told a five-judge...
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