The Direct Tax Vivad Se Vishwas Act 2020 : Criminal Intimidation to settle case pending at a judicial forum by ITD Authorities to meet Revenue Targets : Illegality and Judicial recourse thereof.

Section 3 of the Direct Tax Vivad Se Vishwas Act, 2020 assumes jurisdiction “.. where a declarant files under the provisions of this Act on or before the last date, a declaration to the designated authority in accordance with the provisions of section 4 in respect of tax arrear, ..” . There is no provision…

Carbon Tax on fossil fuel to fund oil saving infrastructure

Oil prices have fallen to record low levels and Indian government has raised taxes keeping pump prices artificially high. The Government should consider earmarking a portion of the carbon tax on fuel so collected on modern public transport infrastructure such as metro railways, suburban railways, electric bus rapid transit systems (eBRTS), and high-speed (350 km/hr)…

Prohibit Charitable Trusts to Accumulate Incomes u/s 11(2) of I T Act 1961 or transfer surplus unspent incomes to PM CARES Fund

At present, Charitable Trusts registered with the Income Tax Department are allowed to accumulate a portion of unspent Incomes u/s 11(2) of the Income Tax Act, 1961 without payment of Income Tax. One measure to nudge Charitable Trusts to spend more of their Accumulated Income and Reserves to fight the CoViD19 pandemic would be to prohibit them…