“As one more Indian fiscal year ended, it was yet again time to think of the various tax and fiscal developments in our country. On the airplane returning from an overseas trip in the first week of the new fiscal year, the familiar and comforting voice of the lady pilot announced the landing in Mumbai.
Mr. Arun Jaitley, India’s Finance Minister (FM), while presenting the Budget for 2016–17 has outlined nine distinct pillars as part of the “Transform India” agenda. Fiscal deficit and tax reforms have been identified as two of these distinct pillars. As far as fiscal discipline is concerned, the FM has indicated his resolve to maintain fiscal … More India’s Budget 2016- Transforming India
As the BJP Government gets ready to present its second full-fledged Budget in February 2016, it is a good occasion to ponder upon what may lie ahead on the tax policy front in the coming year.
The government’s scorecard on tax policy so far has certainly been good, but not bold enough to exorcise the spectres of the past. Amongst many poll promises of the NDA Government, the one on ending tax terrorism stood out. Such strong sentiment was hitherto never expressed by a political party against the perceived hostile environment … More Tax terrorism: phobia or reality?
Unlike in the last year’s longer speech, the Finance Minister (FM) chose to recite a couplet right in the beginning of his speech when he presented his Budget for 2015–16. He refers to the “flowers” this Government has been “showering” to improve the investment and business climate in India. On Tax policy in particular, the FM … More Budget 2015: Of flowers and thorns
The PM has started in all earnestness with his set of 10 commandments for his Council of ministers and bureaucrats for fulfilling his election pledge of good and effective governance. I have ventured to suggest 10 commandments on Tax Policy which the FM may consider to usher in the much needed clarity in legislation as … More Budget 2014-15: 10 Commandments On Tax Policy For FM
The much awaited report of the Tax Administration Reforms Commission (TARC) has been released. Parthasarathi Shome, who chairs the TARC, and his team have done a commendable job in their in-depth coverage of all the relevant issues and in holding a mirror in front of the tax administration with a constructive objective of recommending concrete … More TARC report: Taxman needs to change old mindset