Shome Committee

Highlighting that there is no instrument at present that captures details of cash withdrawals from bank accounts, it said such information would help the I-T department widen its information base on the use of black money

Preparing For GAAR!

India first met the General Anti-Avoidance Rule or GAAR in the Direct Taxes Code Bill, introduced in parliament on August 30, 2010. But before the Bill could become law, GAAR did; hurried along by then Finance Minister Pranab Mukherjee in the 2012 Budget.

GAAR Report: 25 Key Takeaways

Yesterday, the Finance Minister issued a press release on the General Anti-avoidance Rules. The Ministry has accepted various recommendations made by the Shome Committee on GAAR.

Restoring investor confidence to be top priority in 2013

Restoring investor confidence and reversing economic slowdown which kept the Finance Ministry in a difficult year would continue to be its priority in 2013 with everyone looking forward to the Budget to be presented by new incumbent P Chidambaram two months from now in February.

Vodafone in talks with FinMin for settling tax case

Vodafone's non-executive chairman Analjit Singh met the finance minister today over setting the tax dispute.

Shome committee recos on GAAR being examined: Govt

The government today said it is examining recommendations of the Shome committee which suggested postponement of the General Anti-Avoidance Rules by three years and non-application of tax laws with retrospective effect on indirect transfers of assets.

FinMin eager to roll out GAAR from April'14: Source

The finance minister has rejected the Shome Panel's recommendation to defer GAAR by 3 years. Instead Chidambaram is in favour of rolling out GAAR from April 2014, reports Aakansha Sethi quoting sources.

Government plans to unveil final GAAR rules soon

India is planning to announce the finalised amendments to the controversial rules on tax evasion for foreign investors in the next 7-10 days, Finance Minister P. Chidambaram said on Friday, without specifying the details of what will be announced.

Shome Committee Draft: Retrospective To Prospective

This week, the Shome Committee submitted a draft report on retrospective amendments relating to indirect transfers.

Shome report pragmatic; govt must amend law soon: Experts

The Parthasarathi Shome Committee set up by the government has said retrospective amendments in tax laws targeting overseas mergers and acquisitions of companies with assets in India, should be scrapped.

Vodafone needs to decide on future course of action: Dutt

Anu Dutt, counsel, Vodafone, says that that bringing retrospective liability through any provision of law on a buyer is illegal and should not be done in any viable democracy.

Here are Shome Panel proposals on retro amendment

The Shome Committee has proposed several recommendations, including exemption of FIIs, P-notes, portfolio investments and much more from retrospective amendment. CNBC-TV18's Aakansha Sethi reports.

Govt to address retro amendment issue before Budget

Seeking to lift investor sentiments, the government today said that it will not wait for the Budget, which is due in February, to address the issues concerning retrospective amendment to Income Tax laws.

Realty stocks to be volatile; HDIL, DLF top bets: PN Vijay

With the finance minister Chidambaram trying to unlock some of the procedures and policies, Portfolio Manager PN Vijay believes that 49% FDI in insurance will not be as negatively perceived as retail.

Shome panel to submit final GAAR report on Monday

The Shome Committee's final report on general anti-avoidance rule (GAAR) will be released on Monday. CNBC-TV18's Akanksha Sethi reports with what you can expect.