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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 IL&FS crisis: ICAI seeks explanation from audit firms
 Arun Jaitley pushes for more tax filing in FY19
 Are you filing Income Tax Return (ITR)? This is where you are trapped! Know what is Form 16 , Form 16A, Form 26AS, TDS statement
 Officials handling GST can assess all No centre-state wall
 How is long-term capital gain from Nabard bonds taxed?
 Himachal Pradesh government notifies TDS and TCS provisions
 Tax law panel may look to drop dividend distribution tax (DDT)
 Lifestyle to refund profiteered amount
 How to club tax benefits and retirement planning to ensure peace of mind
  E commerce companies set to collect tax from sellers
 Income tax return (ITR) filing: EPF gives you tax benefit under section 80C, but there is catch

Punjab needs to plug loopholes to check tax pilferage
January, 14th 2016

Punjab finance minister Parminder Singh Dhindsa on Wednesday acknowledged non-payment of taxes prevailing in the state, asserting a huge gap in meeting the tax revenue collection “due to various factors”.
“There are some loopholes that need to be plugged to check tax pilferage,” Dhindsa said during an interaction with the media at the Chandigarh Press Club here.

He said there was no data available that could reveal the tax pilferage. The minister said that taking the revenue growth to more than 12% would be his government’s biggest challenge for the upcoming budget for the financial year 2016-17.

He said the state’s next pay commission would soon be set up for which the terms and references would have to be revised as these were earlier rejected by the Centre. It would take a year or so to set up the pay commission, he added.

Agreeing that the state government was mortgaging its assets, he said that so far it had transferred the assets like “old buildings” worth more than Rs 2,000 crore to either the Punjab Infrastructure Development Board (PIDB) or the Punjab Urban Planning and Development Authority to generate revenue capital. The minister maintained that the rate of increase in debt had lowered to 32% from 45% in 2002.

The cash-starved state has been facing overdrafts more than once in the present fiscal, raising loans from the Reserve Bank of India.

Dhindsa said the 14th finance commission had done great injustice to Punjab by not acknowledging the free power subsidy to farmers while deciding the revenue deficit grant to the state. “If we are giving huge subsidies and sops to industrialists, why not to farmers,” he asked.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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