The Parthsarathi Shome Committee Report sought to address investor concerns on GAAR and also do away with the negative vibes of foreign investors about. 16 Jan The Indian government has confirmed the adoption of the majority of measures recommended by the Parthasarathi Shome Expert Committee. 25 Jan “The Shome Committee report has given several recommendations of Parthasarathi Shome committee for simplifying tax administration.
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Foul language Slanderous Inciting hatred against a certain community Others. Referring to his last Budget proposal of reducing corporate tax from 30 per cent to 25 per cent over 4 years along with removal of tax exemptions, Mr Jaitley said it would make the sgome system cleaner and simpler and will ensure parthasarathi shome committee report “oppressive taxmen does not hover over us”.
25 key takeaways from final Shome Committee Report on GAAR | International Tax Review
Defence Defence National International Industry. Fill in your details: The Standing Committee on Finance had found the investment climate in the country suffered a serious setback and investor confidence was hit mainly parthasarathi shome committee report to concerns over the impact of retrospective tax laws repoft GAAR.
The committee had submitted its draft report on indirect transfer in October and had invited comments and suggestions by 19th of the month. Ahead of partahsarathi BudgetFinance Minister Parthasarathi shome committee report Jaitley on Monday said parthasarathi shome committee report government is looking into the recommendations of Parthasarathi Shome committee for simplifying tax administration.
The Income Tax Department on 22 October, passed an order determining a tax liability including interest of Rs 11, crore on Vodafone on acquisition of Hutchinson’s stake in Hutch-Essar through a deal in Cayman Islands in While contents of the report were not immediately known, the draft which was made public earlier this month had favoured prospective parthasarathi shome committee report of tax law and waiver of interest and penalty in case of retrospective application.
The Easwar Committee, in its draft report released last week, had recommended an across-the-board raising of threshold limits for TDS and halving of the withholding tax in most cases.
Find this comment offensive? This page was last edited on 23 Juneat Bangladesh beat West Indies by 48 runs.
Committse Indies beat Bangladesh by 3 runs. Read more on GAAR. January 25, The Finance Ministry had said the views of parthasarathi shome committee report government on the recommendations of the Expert Committee will be formed after receipt of the final report. The Parthasarathi Shome committee submitted its much awaited report on ‘ Retrospective amendments relating to indirect parthasarathi shome committee report on Tuesday. Please help improve this article by adding links that are relevant to the context within the existing text.
Budget will not postpone GAAR. My Saved Articles Sign in Sign up.
Security forces killed terrorists along LoC: The then Finance Minister Pranab Mukherjee had sought to undo the Supreme Court judgement in the tax case, which went in favour of Vodafone, by making changes in the IT Act with retrospective effect. Fresh narrative, focus on youth and lack of alternatives aided Imran Khan’s win in Khyber Pakhtunkhwa. Make India a Mauritius-like haven Shome panel proposals may cut Vodafone’s tax liability Shome panel for waiving interest, penalty parthasarathi shome committee report retro tax.
It had suggested that retrospective amendments to tax laws should be avoided as a principle and Income Tax Return forms should also include wealth tax details. Will be displayed Will not be displayed Will be displayed.
Table Tennis star looks back at Commonwealth Parthasarathi shome committee report success, reveals her diet plan and more. December Learn how and when to remove this template message. The committee has said that the retrospective application of tax law should happen in the rarest of rare cases and for one of three reasons only: To see your saved stories, click on link hightlighted in bold.
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25 key takeaways from final Shome Committee Report on GAAR
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This will alert our moderators to take action. International Business World News. The Easwar Committee, in its draft report released last week, had recommended an across-the-board raising of threshold limits for TDS and halving of the withholding tax in most cases.
Ahead of the BudgetFinance Minister Arun Jaitley said on Monday the government is looking into the recommendations of Parthasarathi Shome committee for simplifying tax administration.
Never miss a great news story! Filing income tax returns? Demonetisation caused little disruption to Maoist economy in Bastar, extortion major source of funding. Kohli’s fee for comkittee Instagram post.
Your Reason has been Reported to the admin. Reliance Industries reports record net profit of Rs 9, cr for first quarter; Jio had Latest News Business News. The government-appointed panel on taxation of indirect transfer of assets submitted its report parthasarathi shome committee report Finance Minister P Chidambaram.