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: form 3cd :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: due date for vat payment :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: cpt :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Arun Jaitley promises friendly income-tax system soon
April, 18th 2015

Having initiated a series of administrative and legislative reforms, India is on its way to have a modern and friendly tax system, Union finance minister Arun Jaitley said. “Such a modern tax system, which is friendly to the people and businesses, would be a key to realising the goal of a double digit growth,” Mr Jaitley said in his address at the Peterson Institute for International Economics – a think-tank.

“Tax policy and administration should incentivise compliance. They should be administered fairly, transparently, with minimum discretion with no harassment of taxpayers but also ensuring that tax evasion is dealt with firmly,” Mr Jaitley said spelling out his vision of a modern tax system. “The tax net should be wide so that all citizens feel they are part of government. For domestic taxpayers, the rates need to be low as taxes are seen as money being forcibly transferred from citizens to the state,” he said.

The finance minister said that to achieve these objectives India needed a modern, 21st century system for indirect taxes, direct taxes and tax administration. He exuded confidence that the Parliament would pass the necessary Constitution Amendment Bill for GST in the next three weeks. “GST is a modern tax, a consumption-based value-added tax, and a tax that avoids tax cascading. This would create a broad tax base and strengthen revenues going forward and the tax-GDP ratio,” he said.

The GST will not only promote transparency but reduce corruption because of the paper trail it will create, he said. “We aim to secure legislative passage within the next three weeks after which it will go to the states,” he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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