Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Indirect Tax »
Open DEMAT Account in 24 hrs
 How to reduce tax on rent from vacant houses
 Make sure to claim these tax deductions
 Investment tips for those opting for new tax regime
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
 E-generated document required for indirect tax notices
 FinMin seeks industry inputs on direct, indirect tax changes
 Govt gives businesses four months to settle indirect tax disputes
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
 No income tax on interest from accident compensation: High Court
 How much tax do you need to pay for your equity investments?
 Income Tax Department proposes new norms for taxing MNCs in India

Narendra Modi pledges stable tax policy to woo American business
September, 30th 2014

Prime Minister Narendra Modi on Monday pitched for investments from some of the largest American corporations with the promise of a stable tax policy and an assertion that he wants to convert the Supreme Court ruling on coal block allocation into an opportunity to move forward and "clean up the past".

"It is my conviction that tax stability is essential for confidence building," said Modi, who hosted 11 CEOs for breakfast. The Prime Minister's comment on a stable tax regime comes amidst severe criticism of the policies followed during the UPA regime, including retrospective amendments to the law to claim taxes from Vodafone that acquired Hutch's telecom assets in India. Modi and his collegues have not shied away from referring to the policies as "tax terrorism".

His candidness extended to the coal block allocations as well since the court ruling is seen to be harsh by corporates as it impacts awards going back two decades and comes at a time when the government is keen to boost investor sentiment.

READ ALSO: Modi hasn't eaten in four days, Americans baffled

How Narendra Modi has pulled a 'fast' one on Obamas

The Prime Minister — who has given economic turnaround top billing in his scheme of things — told CEOs including Google chairman Eric Schmidt, Citigroup CEO Michael Corbat, PepsiCo's Indra Nooyi, GE's Jeff Immelt and drugmaker Merck's Kenneth C Frazier that the government is open to suggestions to speed up activity in Asia's third largest economy.

While hearing out the concerns expressed by business leaders, Modi assured them that his government would address the problems and try to make the overall environment more business-friendly. "India is open-minded. We want change. Change that is not one-sided. Am discussing with citizens, industrialists & investors," Modi was quoted as saying in a tweet by the MEA spokesperson.

He flagged infrastructure development as a key activity for overseas investors, arguing that it creates jobs and improves the quality of life. The government is keen to ensure that every village has 24x7 electricity supply, road development picks up speed again, ports have enough capacity to boost trade and airports are modernized.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting