Page-6 of Taxation
Rajaswa Gyan Sangam 2017 held in New Delhi
The 2017 Rajaswa Gyan Sangam, a two-day annual conference of senior tax administrators was held at Vigyan Bhawan, New Delhi. It was inaugurated Prime Minister Narendra Modi. The conference was jointly organised by Central Board of Direct Taxes (CBDT) and ..
Month: Current Affairs - September, 2017
CBDT inks 9 Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) has entered into 9 Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in July, 2017. With this, total number of APAs signed till date stands at 171 (Bilateral-12 and Unilateral-159). The nine APAs ..
Month: Current Affairs - July, 2017
BRICS nations sign Taxation Cooperation Memorandum
Tax authorities of the BRICS- Brazil, Russia, India, China and South Africa have signed BRICS Taxation Cooperation Memorandum to establish a mechanism for taxation cooperation. The landmark document is the bloc’s first document that elevates taxation cooperation to the institutional ..
Month: Current Affairs - July, 2017
Cabinet approves MOC in respect of tax matters between India and BRICS countries
The Union Cabinet has approved signing of Memorandum of Cooperation (MOC) in respect of tax matters between India and the BRICS countries namely, Brazil, Russia, China and South Africa Decision in this regard was taken at the Union Cabinet meeting ..
Month: Current Affairs - July, 2017
Government sets up new wing to provide intelligence inputs
The Union Government has set up Directorate General of Analytics and Risk Management (DGARM), a new wing to provide intelligence inputs taking action against tax evaders. It has been has been set up will be under the Central Board of ..
Month: Current Affairs - July, 2017
Aaykar Setu: Government launches new tax payer service module
The Union Finance Ministry has launched Aaykar Setu, a new tax payer service module. The new e-initiative literally means taxpayer’s bridge and will be available in android phones. It compiles various tax tools, dynamic updates, live chat facility and important links ..
Month: Current Affairs - July, 2017
Government issues Notification for roll out of GST
The government has notified the roll out of Goods and Services Tax (GST) from July 1st. Salient Facts To launch GST in the midnight of June 30th, the government has organised a special programme to be held in Central Hall of Parliament. The ..
Month: Current Affairs - June, 2017
Tax Reforms in India
Prior to the liberalization of Economy, India’s tax regime suffered numerous problems. These problems which were in vogue in 1960s and 1970s were as follows: There was a high degree of progressiveness (rich needed to pay exorbitant taxes). On the ..
Progressive, Regressive and Proportional Taxes
There are three kinds of the taxes on the basis of their quantum / ratio of charging viz. regressive tax progressive tax and proportional or flat tax. Regressive Tax A regressive tax is the one in which tax rate decreases ..
Lok Sabha passes 4 GST Bills
Lok Sabha has passed four Bills relating to the implementation of the Goods and Services Tax (GST). It paves way for implementing a new, consolidated indirect tax regime from the proposed date of July 1, 2017. The four bills passed ..