Author: Nirmal Ghorawat
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Economics 101 : Without Land, Labour, Capital Reforms : How will India attract Manufacturing Cos relocating from China and elsewhere
I came across a Tweet by Seshadrichari ji who cites a Nomura report that out of 56 companies moving out of China, only 03 located to India with the maximum…
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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,…
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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…
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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.…
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The wealthy are like sheep : You can fleece them many times but skin them only once
Ex Chief Economic Advisor, Arvind Subramanian in an Interview to The Economic Times published 16 April 2020 suggested the re-Introduction of Wealth Tax and I quote :”The government should consider…
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TDS ON CASH WITHDRAWLS
The Finance Bill, 2019 has introduced Section 194N in the Income Tax Act 1961 to provide for TDS @2% on cash withdrawls exceeding 1 crore from one or more bank…
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A suggestion : MRP Based GST Compensation Cess
I have a suggestion that can increase the GST Compensation Cess collected by Union Government as well as reduce the compliance burden of GST Compensation Cess on small and marginal…
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