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: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: cpt :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
Direct Tax »
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT
 Tax department changes rule for accommodating deductions for deferred spectrum payment
 Tax dept renotifies income computation, disclosure standards
 Sushil Chandra to be the next CBDT chief
 CBDT will use data from Project Insight to widen tax base: Rani Singh Nair

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