Faced with queries from professionals regarding the implication of the new Black Money Act, tax experts say that lack of clarity and paucity of time are the main challenges for implementation of the law.
The directive, which is a part of the central action plan of the CBDT for the current financial year, comes in wake of the earlier criticism within the department that while the quality queries were deteriorating.
The department has asked the field staff to add at least 25 lakh new assessees every month — a stiff target by all counts considering that it is nearly equivalent to the number of new assessees added annually.
The special cell to facilitate operations of South Korean firms in India is the third such platform being set up by the Centre. Fast-track panels for investors from Japan and the US are already in place.
The Standing Committee’s recommendation comes after the finance minister announced in the Budget that DTC would not be pursued as most provisions of the code have been incorporated in the existing Act.
Amid Prime Minister Narendra Modi’s tour of three industrialised democracies — France, Germany and Canada — to pursue India’s “economic interests” and promote “Make in India” by flagging off major business fair Hannover Messe in Germany, EU trade commissioner Cecilia Malmström, in an email interview with Shruti Srivastava, says that the 28-nation bloc is willing to […]