Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: VAT Audit :: cpt :: form 3cd :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Directions under section 119 of the Income-tax Act, 1961
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful

Pranab Mukherjee: Economic legislation to be tuned with global norms
November, 29th 2010

Union Finance Minister Pranab Mukherjee on Saturday underscored the need for the economic legislation to be tuned with global norms.

Inaugurating the regional conference of the Southern India Regional Council of the Institute of Chartered Accountants of India (ICAI) here, he said the country had concluded tax information exchange agreements with eight countries.

The Finance Minister said the implementation of globally acceptable accounting standards was of great importance in the emerging economic scenario. The renegotiation of the Double Taxation Avoidance Agreement with various countries was being actively pursued.

Risk management tools should not fiddle with accounting standards. Though lax regulation might encourage financial disorderliness, excessive exercise of regulation would be harmful. Good regulators would bring in long-term benefits, he said.

Mr. Mukherjee said the Direct Taxes Code reform would be implemented only after necessary discussions with the stakeholders.

The issues pertaining to the reform were being scrutinised by the Standing Committee of Parliament.

The concurrence of States was essential for implementation of the Goods and Services Tax as the States and the Centre would have legislative competence in the same areas. Discussions were being held with the Empowered Committee of State Finance Ministers in this connection.

Inclusive growth

Pointing out that transforming the economy of 120-crore people on a sustainable basis was a challenging task, Mr. Mukherjee lauded the efforts of ICAI in fine tuning financial reporting, auditing and accounting procedures.

Inclusive growth is required to address poverty, diseases and other social maladies. Empowerment is required to achieve inclusiveness. It needed entitlements and not mere announcement of policies. Right to job and universal education to children up to the age of 14 were part of such reforms that required huge investments.Union Minister of State for Agriculture K. V. Thomas noted the pro-active role played by the chartered accountants in providing inputs to the government.

K. M. Mani, former minister; Amarjit Chopra, President of ICAI, G. Ramaswasmy, Vice-President of ICAI; Babu Abraham Kallivayalil, Chairman of the Southern Regional council of ICAI; P. C. Chacko, MP; P. Rajeev, MP; M. Narendra, Chairman and Managing Director of Indian Overseas Bank; B. S.Bhasin, Chief General Manager, State Bank of India, Kerala Circle, were among the speakers at the inaugural session of the two-day meet.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions