Tag: Income Tax
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Easwar Panel Report: How people-friendly can the tax laws be?
By Anusmita Mazumder, Department of Law, University of Calcutta. Just a few days ahead of the Union Budget 2016-17, a committee was asked to make necessary recommendations for simplifying the current Income Tax Laws, which accordingly has recommended a higher threshold for deduction of tax at source and cuts in rates, plus measures to reduce litigation. The…
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National Judicial Reference System: An Overview
By Sonal Srivastava, Amity Law School, Lucknow. National Judicial Reference System is a pioneering project of the Income Tax Department to streamline its tax litigation system. The project aims at being the comprehensive repository to all Appeals and Judgements related to Direct Taxes in India. It envisages in bringing automation in the working of the judicial wings…
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New Income Tax Returns Form: The Changes
By Anaida Kuthiala, Army Institute of Law, Mohali. In a democracy like India, where the Govt is of the people, for the people and by the people, there rests with the people the right to privacy i.e. the right of non-disclosure, and the liability to inform (along with the right to be informed). In order to strike…
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Advance Ruling under Income Tax Act, 1961
By Aakanksha Mishra, Gujarat National Law University. In this era of liberalized international trade and increasing globalization, the need for good tax laws and good tax administration is increasingly felt by modern economies. The Government of India has entered into several DTAAs to resolve taxation related problems arising out of cross border trade and investment.…