Eminent economist Parthasarathi Shome will be the new advisor to Finance Minister P Chidambaram. He succeeds Vijay Kelkar, whose term ended on August 31.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
Panel has suggested that GAAR provisions should not be invoked to examine the genuineness of the residency of entities in Mauritius.
Says Finance Ministry is working on tax structures as suggested by the Parliamentary committee
Move could be a major relief to Vodafone.
The government is trying to send a signal it wants to stimulate the economy and the stock market.
Amid long-pending dispute between the UK-based telecom giant Vodafone and the tax authorities in India, Finance Minister's advisor Parthasarathi Shome on Wednesday said the government should not use retrospective amendment of tax laws to raise revenues.
Introduction of GAAR, which was proposed by then Finance Minister Pranab Mukherjee in the Budget 2012-13 to check tax evasion, had triggered strong opposition by foreign investors following which its implementation was postponed till April next year.
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The ministry has been receiving representations from chambers of commerce and industry associations on tax-related issues and disputes that affect the industry as a whole or impact a large sections of the industry.
A look at a few important questions on GAAR and their answers.
The government on Friday said it is examining recommendations of the Parthasarathi Shome panel on controversial retrospective tax laws introduced in the last Budget.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
Seeking to lift investor sentiments, the government on Monday said that it will not wait for the Budget, which is due in February, to address the issues concerning retrospective amendment to Income Tax laws.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
A committee on digitalisation headed by Andhra Pradesh Chief Minister Chandrababu Naidu had in an interim report recommended taxing cash transactions of at least Rs 50,000 to promote digital payments.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
This means taxpayers might continue to enjoy exemption on maturity of their investments
Jaitley sets condition of 50% assets for applicability of capital gain tax.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
There is much work to be done to design a good GST.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
India has just had one of the worst quarters in export earnings.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
To begin, the Budget has no doubt attempted to address uncertainty.
Agricultural incomes can be taxed without hurting farmers, as a substantial section - the small and marginal ones - will remain outside the tax net simply because their incomes are likely to be below the basic exemption limit of Rs 250,000 per annum that is extended to all taxpayers in India, finds out Ishan Bakshi.
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