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 STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: cpt :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: TDS :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Govt may step up action against tax evaders to reduce deficit
August, 20th 2008

 Committed to reduce fiscal deficit and check inflation, the government may step up deterrent action against direct tax evaders and eliminate tax incentives to raise revenue collection.

"The share of direct taxes in the overall tax-GDP ratio has to be necessarily increased. The only option left on this front is to eliminate incentive and step up deterrence" Revenue Secretary P V Bhide said while speaking at a Ficci seminar.

Reducing fiscal deficit has become all the more important to control rising inflation, he said adding, the price rise has been on account of domestic as well as global factors.

"The need for reducing high fiscal deficit, which initially arose to prevent crowding out investment, has become all the more important to control present inflation, which is not only due to factors within the country but also on account of global environment," Bhide.

Inflation has soared to a 13-year high of 12.44 per cent despite host of fiscal and monetary steps taken by the Central government and the Reserve Bank of India.

Pointing out that it was difficult to reduce fiscal deficit in the short-run by cutting expenditure, Bhide said, the only option left with the government is to raise additional resources through direct taxes, as indirect tax like customs are being reduced to check inflation and also honour international commitments.

India's total tax-GDP ratio, which was at 17.5 per cent, needs to be stepped up to mobilise additional resources for reducing fiscal deficit and funding social sector programmes of the government.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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