Panel for tax on cash withdrawal beyond limit to curb black money

A high level official panel Tuesday proposed levying of banking transaction tax on withdrawal of cash beyond a specified limit in a day to check black money and was not in favour tax amnesty scheme.

GAAR framework aimed at boosting investor confidence

The government is examining recommendations of the Shome committee which suggested postponement of GAAR by three years and non-application of tax laws with retrospective effect on indirect transfers of assets.

India should focus on data mining, analysis of tax admin: Shome

India should strengthen the Large Tax Payers Unit (LTUs) and focus on data mining and analysis of tax administration, expert Parthasarathi Shome said Thursday.

Shome committee recommendations on GAAR being examined: Govt

Committee headed by tax expert Parthasarathi Shome, set up by the government, has submitted two reports -- on GAAR and retrospective amendments relating to indirect transfers.

Final view on retro tax amendments by Nov 15: FinMin

The Parthasarathi Shome committee in its draft report had suggested prospective application of tax law and waiver of interest and penalty in case of retrospective application.