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 :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT RATES
 
 
News Headlines »
 How you can save tax in the last 2 days of current FY
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help

Government sets up council for consistent tax laws
February, 03rd 2016

The government has recast the institutional arrangement for tax reforms and legislation, creating a Tax Policy Council headed by the finance minister. This will approve broad policy measures to ensure consistency in direct and indirect tax changes.

The council will be assisted a Tax Policy Research Unit (TPRU), a multi-disciplinary body that will generate ideas for the former's consideration.

The new structure is based on the recommendations of the Tax Administration Reform Commission (TARC) that identified "handling of tax policy and related legislation as one of the areas which needs structural modifications" and suggested the new arrangement.

This function is currently handled separately by the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) through the Tax Research Unit (TRU) and Tax Policy and Legislation (TPL) wings, respectively. Their proposals also reach the finance minister through separate channels.

"To bring consistency, multidisciplinary inputs, and coherence in policy making, TARC has recommended that a Tax Council supported by a common Tax Policy and Analysis (TPA) unit should be established to cater to needs of both direct and indirect taxes," the finance ministry said in a statement announcing the decision. "The above steps will enable the government to take an integrated view of direct and indirect taxes and obtain inputs from a broad spectrum of professionals. This will help in the formulation of balanced and forward-looking tax policies," said Sunil Shah, partner, Deloitte Haskins & Sells. The council will have the minister of state for finance, deputy chairman of NITI Aayog, minister of state for commerce and industry, finance secretary, DEA secretary, revenue secretary, commerce secretary, DIPP secretary and chief economic advisor as members.

The heads of CBDT and CBEC will be special invitees. "The Tax Policy Council will look at all the research findings coming from Tax Policy Research (TPRU) Unit and suggest broad policy measures for taxation," the statement said. The council will be advisory in nature and help the government identify key tax-related policy decisions. The government has also given a very clear mandate to TRPU.

Every tax proposal will explain the legislative intent, expected increase or decrease in tax collection and the likely economic impact.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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