Finance Minister Pranab Mukherjee on Friday said a new direct tax regime with rationalised rates and simplified procedures will take effect 2011 and as the government was open to suggestions to improve the proposals. "We want to present all stakeholders with a tax regime that is simple and broad based, leading to lowering of tax rates, much better tax compliance and reduced litigation," Mukherjee told a seminar on the new Direct Tax Code here.
The Finance Minister has scrapped a tax on commodity transactions.
http://www.ibnlive.com/news/taxes-and-you-proposed-changes-in-budget-200910/96503-7.html
Direct Taxes Code Bill will be introduced in the Lok Sabha soon.
P Chidambaram has asked income tax officers to get aggressive on collection.
http://www.ibnlive.com/news/govt-panics-as-direct-taxes-collection-falls/78053-7.html
Just 3 crore Indians pay taxes but their plea for fairness won’t be heard.
http://www.ibnlive.com/news/honest-taxpayer-pays-up-govt-makes-merry/70098-7.html
Chidambaram promised to check inflation at below 4.5 pc with a mix of fiscal, monetary and supply side measures.
http://www.ibnlive.com/news/fm-takes-uturn-cuts-more-taxes/39699-7.html
A few weeks ago, investors were riding high on the India growth story until there came a bloodbath on the bourses.
http://www.ibnlive.com/news/investor-or-trader-taxmans-on-prowl/13360-7.html
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