Parthasarathi Shome

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  Government Looking at Shome Panel Report to Simplify Tax System: FM

  Finance Minister on Monday said the government is looking into the recommendations of Parthasarathi Shome committee.

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  Taxpayer Services to be Improved Soon: CBDT

  Chairperson of Central Board of Direct Taxes Anita Kapur said the Income Tax department was examining the recommendations of the Tax Administration Reform Commission (TARC), headed by economist Parthasarathi Shome, for its implementation soon so that taxpayer services and grievance redressal issues are resolved on priority.

• Minimise retrospective amendment of tax laws, says Shome

  British telecom major Vodafone in fighting a tax dispute with the government in a case related to its 2007 acquisition of Hutchison Whampoa's stake in Hutchison Essar.

• Holders of participatory notes may be taxed in next budget: Shome

  Holders of participatory notes (PNs) issued by foreign institutional investors (FIIs) might be taxed in the next budget as it had been agreed by the finance department, advisor to Union Finance Minister Parthasarathi Shome said.

• Retro amendment of tax laws should not be to raise revenue: Shome

  He was replying to a question whether retrospective amendment in the tax laws has vitiated business environment in the country, particularly the one related to the tax dispute with the UK-based telecom giant Vodafone Group.

• Govt sets up Tax Administration Reform Commission under Shome

  The seven-member Tax Administration Reform Commission (TARC) will have an 18-month tenure to suggest various measures, including appropriate organisational structure for tax governance, an official statement said.

• Budget 2013: Mauritius tax residency certificates will not be questioned, government says

  A tax residency certificate (TRC) will suffice for investments coming from Mauritius and there is no need to prove beneficial ownership, Parthasarathi Shome, advisor to the finance minister, told NDTV.

• Recommendations on retro-tax laws under examination: government

  The government on Friday said it is examining recommendations of the Parthasarathi Shome panel on controversial retrospective tax laws introduced in the last Budget.

• Direct Taxes Code Bill to be tabled after noting panel recommendations: Shome

  The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the standing committee on finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh.

• Optimum level of control needed for Indian markets: Shome

  Pitching for optimum level control over the financial sector, a financial expert has said that it should be not so excessive as to kill the development agenda.

• Parthasarathy Shome appointed adviser to Finance Minister

  Dr. Parthasarathy Shome has been appointed adviser to the Finance Minister in the rank of Minister of State, the government announced in a brief statement.

• Shome panel submits final report on retrospective tax amendments to Finance Minister: top 10 developments

  The Parthasarathi Shome committee on Wednesday presented its final report on retrospective tax amendments to Finance Minister P. Chidambaram, sources said. The panel has suggested, among other things, that interest and penalty be waived if tax has been applied retrospectively, as reported earlier.

• Don't use anti-tax avoidance measures to raise revenue: Shome

  Anti-tax avoidance measures like GAAR should be used sparingly and not to raise revenue for the government, said Parthasarathi Shome who heads the government committees on taxation matters.

• GAAR likely to be amended in 20 days: Chidambaram

  The finalized General Anti-Avoidance Rules (GAAR), which would target companies and investors routing money through tax havens, are expected to be softer on investors than originally proposed in the Budget.

• GAAR: Shome panel likely to submit final report today

  The Parthasarathi Shome panel, looking into the taxation issues relating to GAAR (General Anti-Avoidance Rules), is likely to submit its final report to Finance Minister P Chidambaram on Monday.