PARTHASARATHI SHOME

  • Hopeful of 19 percent tax revenue growth in 2013-14, says Shome March 10, 2013

    Kolkata: 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. "This year (2012-13) we are likely to have 17 per cent growth in...
  • 'Govt to come out with modified DTC Bill' January 31, 2013

    New Delhi: 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 suggested raising annual income tax exemption limit to Rs 3 lakh. "Will come out with modified DTC (Bill) in response to...
  • GAAR should be applied intelligently: Panel head September 1, 2012

    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...
  • GAAR should be applied intelligently: Expert panel chairman September 1, 2012

    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: PMappointed panel September 1, 2012

    New Delhi: The Prime Ministerappointed 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...
  • PM sets up committee to frame GAAR guidelines July 13, 2012

    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 fourmember committee, to...