P. Chidambaram warns Switzerland to share HSBC bank info on black money
Courtesy : The Financial Express 07 May 2014
In a strongly-worded letter to his Swiss counterpart, Finance Minister P. Chidambaram has also warned that an effective exchange of tax-related information was "extremely important" for economic co-op...
Committing to implement GST, BJP’s prime ministerial candidate Narendra Modi today said if his party comes to power, it will take states into confidence before pushing the long delayed new indirect ...
Finance ministry gets on with Budget work, seeks tax inputs from industry
Courtesy : The Financial Express 22 April 2014
The finance ministry has started the exercise of making the full year Budget for 2014-15 even though it is for the next government to take a call on whether the policy directions would change.
An e...
Pakistan’s tax collection agency, the Federal Board of Revenue, released a 17,000 page directory on Wednesday of those people who paid tax and filed tax returns in the previous year. This was the fi...
Government sets up Tax Administration Reform Commission: Parthasarathi Shome
Courtesy : Economic Times 31 March 2014
As part of bringing in more credibility among tax payers and to streamline income tax procedures, the Government has set up a Tax Administration Reform Commission comprising officials from public and ...
MANDATORY RULE Passengers to fill declaration form before departure; officials says move aimed at stop smuggling
Air travellers say the new move will give a chance to Customs to harass passengers....
During my 37-year-old career with Income Tax department, I moved from place to place, post to post. For me, every posting was a challenge, and at the same time an opportunity to deliver.
After my retirement as Chairman of Central Board of Direct Taxes, I was invited by various institutions and NGOs to deliver talks on tax matters. While advising taxpayers across sectors, I noticed, our vast salaried class including armed and paramilitary forces, pensioners or senior citizens, NRIs, professionals and small business establishments need the right guidance. Most taxpayers do comply with their tax obligations fully. Yet, they are not somehow relaxed and are burdened with anxieties. A large number of taxpayers are not even aware that getting tax refund on time is a basic right.
In one such meeting, a middle-aged man quizzed me why could not I give tax advice 24X7. For a moment, I had no answer. He then added that I should give tax solutions online so that he does not need to come from a remote place to attend my lecture. I thanked him for his suggestion.
For a while I was restless. Already I had got myself enrolled as a Member of the Bar Council of Delhi and as an Advocate of Delhi High Court Bar Association, thanks to my law degree from the University of Allahabad. Yet, I was not sure how I could help the vast majority of taxpayers who somehow maintain a safe distance from the taxmen. I then tossed the idea of creating a tax think-tank with some of my former colleagues and highly spirited individuals. All of us immediately agreed on one count: millions of Indian taxpayers expect to access tailor-made tax research materials and seek guidance from those who have been parts of the tax machinery for decades.
That is how CTAR was born. So, be a part of our passionate journey to explain tax laws and rules in simpler words. Just drop us a few lines on any query related to direct and indirect tax or FEMA. We are at your assistance. We also look forward to hearing your experiences while dealing with the system.
