The author suggests to the Prime Minister, who is now also in charge of the Finance Ministry, that if the Government is serious about reforming taxation law, it should listen to professionals who practice the subject day-in and day-out. Professionals know where the problem areas are and why citizens are loath to comply with the law. The author lists out a few burning issues that are crying out for reform. If these are addressed, the taxpayers confidence in the administration will be restored and there will be a marked improvement in compliance with the law, and collection of taxes, promises the author
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Dear Advocates, How You Can Go On Strike When Supreme Court Has Banned It?
The author argues that it is hypocritical that advocates, who represent the elite of society & who are supposed to be the defenders of legal values, should openly flout the law by defying the verdicts of the Supreme Court. Such conduct is symptomatic of the utter lawlessness that our Society has degenerated into in all walks of life rues the author and claims that stern action ought to be taken against the perpetrators for contempt of court
Dear Prime Minister, Scrap GAAR & Vodafone Law & Redeem Yourself
The author suggests that now that Prime Minister Manmohan Singh is also the Finance Minister, he should live up to the promise he made to Vodafone that the Supreme Court’s verdict will be honoured and scrap the retrospective amendments. This, says the author, will boost his stature as the Country’s leader and also improve sentiment amongst the taxpayer and investor community and lead to an inflow of billions of dollars into the Indian economy
An Award Scheme For What? Harassing Taxpayers?
The author, founder of tax2.me, takes a cynical view of the Government’s decision to initiate an award scheme for officers of the income-tax department. An award scheme without a corresponding accountability scheme to rein in officers who step out of line and breach the law will encourage assessing officers to go on a rampage and spell doom for the taxpayers warns the author. He urges all stake-holders to protest against the proposal
10 Ways In Which The Tribunal’s Working Can Be Improved
The author is enthused by the impending training programme for the Hon’ble Members of the Tribunal on “International Taxation and Transfer Pricing“. It is a step in the right direction he says and adds that the time is opportune for all stake-holders to contribute their thoughts on how to improve the functioning of the Tribunal. On his, part, the author cannot resist the temptation to list a few issues that need to be paid attention to for making the Tribunal’s functioning even better than it is today
Dear Vodafone, Government, Get Ready For Part II
The author compliments Finance Minister Pranab Mukherjee for his deft handling of the Vodafone crises despite relentless pressure from all sides. However, now that the stage has shifted from the political arena to the legal arena, it is time to take stock of the options available to the warring parties, says the author as he evaluates the alternatives and identifies their pros and cons in a succinct manner
So, You Thought The Vodafone Verdict Was Against The Tax Department?
The author clears the misconception in the minds of the public that the verdict of the Supreme Court in Vodafone had delivered a body blow to the Government by deciding in favour of the assessee. Instead, large parts of it, when stripped out of context, are in the tax department’s favour and the Government has shrewdly nullified the parts that were against it whilst retaining the parts that are in its favour says the author
Why Software Income Is Not Taxable Despite Retro Law In Finance Act 2012
The verdict in B4U International has sent shock waves across the Country because it implies that the retrospective amendments in the Finance Act 2012 to the definition of the term “royalty” so as to rope in software income and equipment hire charges are infructuous in the absence of a corresponding amendment to the definition of that term in the DTAA. The author puts the issue in perspective and explores the way forward for the Government
Dear UK Govt, Heal Thyself Before Preaching To India About Vodafone
The UK Govt’s not-so-subtle threats to India over the Vodafone retrospective amendments have irked the author. The author cites two controversial retrospective amendments effected in the UK to supersede well settled judicial precedents and fumes that a Government which itself indulges in questionable legislative practices has no right to preach to others
Wanted Urgently: President For The Tribunal
The author dares to ask the question that has been troubling tax professionals across the Country. Why is the Government not appointing a President for the Tribunal? It’s been 23 months since the last President retired and the studied indifference of the Government towards filling the vacancy in this august Institution is sending a wrong message to the Members of the Tribunal and the litigating public, says the author. The author urges the Government to shed its indifference and get its act together before the prestige that this great Institution commands begins to erode