Parthasarathi Shome

Hopeful of 19 percent tax revenue growth in 2013-14, says Shome

On the back of higher economic growth and the additional revenue measures of the budget, the central government hopes tax collections will increase 19 per cent in 2013-14, the finance minister's adviser Parthasarathi Shome said on Saturday. ...  

'Govt to come out with modified DTC Bill'

The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which had ...  

GAAR should be applied intelligently: Panel head

New Delhi: The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of expert committee, Parthasarathi Shome, after submitting the draft report to Finance Ministry. "GAAR should be intelligently applied...some times there are areas of subjectivity so you limit them, truncate them and define them to the extend feasible," Shome told a private news channel. The committee, which was set up by Prime Minister...  

GAAR should be applied intelligently: Expert panel chairman

The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of Expert committee, Parthasarathi Shome, after submitting the draft report to the Finance Ministry. ...

Delay GAAR by 3 years: PM-appointed panel

New Delhi: The Prime Minister-appointed Shome Committee on Saturday submitted its second draft General Anti Avoidance Rules (GAAR) recommendations to Finance Minister P Chidambaram, whereby he proposed delaying the implementation of GAAR by three years. The Committee, headed by Parthasarathi Shome, suggested abolishing Capital Gains Tax on listed securities and distinguishing tax mitigation from tax avoidance, among others. The panel in its report proposed that GAAR should apply from assessment...  

PM sets up committee to frame GAAR guidelines

New Delhi: Within a fortnight of the Finance Ministry issuing draft guidelines on GAAR, Prime Minister Manmohan Singh on Friday set up a committee to prepare fresh norms on the controversial tax provision to bring "greater clarity" and prepare a roadmap by September 30 for its implementation. The four-member committee, to be headed by ICRIER chief and taxation expert Parthasarathi Shome, will submit its report after consulting and taking feedback...