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Govt extends tenure of Lahiri Panel by 1 year

Government has extended by one year the tenure of a high level committee set up under former Chief Economic Advisor Ashok Lahiri to suggest steps to sort out taxation problem being faced by the trade and industry.

Govt sets up panel to simplify Income Tax laws

To simplify Income Tax laws, the government today set up a committee under a former Delhi High Court judge to identify clauses that lead to litigations and suggest modifications to bring predictability and certainty in tax laws.

What is due must be paid, India no tax haven: FM Jaitley

Finance Minister Arun Jaitley on Monday asserted that legitimate tax demand cannot be considered "tax terrorism" because India is not a tax haven.

Foreign firms likely to be allowed to claim deduction on DDT

Some announcement in this regard is likely to be made by Finance Minister Arun Jaitley in his Budget on February 28, sources said.

Italy puts a brake on new tax bill after Berlusconi-related uproar

Italy`s government halted an overhaul of tax laws on Sunday after a controversy erupted over whether the proposed measures might annul the 2012 tax fraud conviction of former leader Silvio Berlusconi.

FM has asked Voda its views on tax issue in writing: Official

"Finance Minister P Chidambaram has asked Vodafone to give its view on the tax matter in writing," said the Finance Ministry official.

Don't use retro amendment of tax laws to raise revenue: Shome

He is also the chairman of the Tax Administration Reform Commission and was speaking at a CII event here.

Shome against retro amendment of tax laws to raise revenue

Amid long-pending dispute between Vodafone and tax authorities, Finance Minister's advisor Parthasarathi Shome on Monday said the government should not go in for retrospective amendment of tax laws to raise revenue.

US recognises same sex marriage under tax laws

The US Department of Treasury has recognised gay marriage under the tax laws, giving equal tax benefits to legally married same-sex couples like their heterosexual counterparts.

Certainty in tax laws needed to lure foreign investors: E&Y

There is a need to eliminate tax and regulatory hurdles so as to lure foreign investors to India based funds, as private equity (PE) firms witnessed nearly 22 percent fall in terms of value in 2012, a report has said.

GMR Group investigated for alleged violation of tax laws

The government Thursday informed Parliament that Income Tax department had conducted search operations on the GMR Group offices for alleged violation of tax laws.

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.

Simplify laws for easy tax collection: CVC

The Central Vigilance Commission on Thursday emphasised on simplification of indirect tax laws - service and excise - to ensure that they are not wrongly interpreted and facilitate in easy tax collection.

CBDT for new laws, strict penalties to deal with black money

A CBDT panel on black money has suggested enactment of new laws, strengthening of existing legislation and introduction of deterrent penalties for tax offences to deal with the menace.

Steps in offing to revive investor confidence: Montek

Amidst a flurry of activities in the PMO and the Finance Ministry to clear air on contentious tax laws, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday indicated that the investors will "soon see action" at the policy front for reviving their confidence.

World Bank chief bats for Pranab on changes in tax laws

Batting for Finance Minister Pranab Mukherjee's proposal to tax Vodafone type deals, the World Bank president Robert Zoellick on Friday said that India wants the company should pay tax at some place and investors must give some time to the government to explain the details.

No vindictive intent behind amending tax laws: Pranab

The government Sunday said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that the I-T Department will not act like a "policeman".

Montek calls for harmonisation of tax laws across countries

Calling for harmonisation of tax laws across national boundaries, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said India should also take steps to bring rules in line with best global practices to make climate more conducive for foreign investment.