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: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT RATES :: due date for vat payment :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30

Parliament must function and pass key Bills, to give growth momentum
November, 22nd 2011

The government has done well to list an elaborate legislative agenda for the winter session of Parliament starting on Tuesday. The controversial Lokpal Bill to fight corruption tops the list of 32 Bills to be considered and passed by Parliament. It is politically the most significant Bill in the current context as the government is under attack both by the Opposition and civil society activists on core issues of governance.

The passage of the Lokpal Bill and the Public Interest Disclosure Bill would signal the government's acknowledgement of the trust deficit that has emerged after a series of scams and its commitment to take clear steps to remove it. The third Bill to fight corruption, the Judicial Accountability Bill, is also welcome.

It would give statutory backing to the code of conduct of judges of high courts and the Supreme Court and make them more accountable. Surely, the Opposition has the right and responsibility to raise issues to make the government accountable.

However, it must also ensure that Parliament functions. Thwarting the functioning of Parliament would mean subverting the idea of a participatory democratic system. With focus on politics, the government is not pushing for big-ticket economic legislation. Nor can it be faulted, as key Bills are pending before the Standing Committee of Finance.

These include the amendments to the Insurance Act to raise foreign direct investment in the sector to 49% from 26%, the Bill on the Direct Taxes Code and the amendment to the Constitution to institute the proposed goods and services tax (GST), by allowing states to levy tax on services and the Centre to tax goods at the retail level.

Economic Bills in this session include the Pension Bill to give statutory backing to the regulator and the Life Insurance Corporation (Amendment) Bill to raise the equity capital of the state-owned institution to Rs 100 crore from Rs 5 crore.

The Companies Bill and the National Food Security Bill feature in the list of 23 Bills slated for introduction. This is not a giant leap for Indian business, but for even this small step to actually be taken, Parliament must function and the Opposition cooperate.

 
 
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