Identity of buyers in case of cash sales

The Central Board of Direct Taxes (CBDT) has sought through Centralised Processing of Information received in respect of Cash Deposits sought under Operation Clean Money details about Identity particulars of Buyers in case of Cash sales of goods and services by Assessee. The Bombay High Court has in the matter of R.B. Jessaram Fetehchand vs…More

Why there is no kranti in Arthakranti’s rather radical tax proposal but it is plain stupid.

Arthakranti Sansthan (literally, “Economic Revolution Organisation”) has proposed a rather radical tax and economic proposal which they believe (emphasis mine, not supported by empirical data or field study or practical application on ground) is “an effective and guaranteed solution of Black money generation, price rise and inflation, corruption and fiscal deficit, unemployment, ransom and criminal…More

The demand for abolishing high denomination currency notes

In India, various quarters, as diverse as an NGO Arthakranti with a rather radical tax proposal, a yoga guru turned FMCG Entrepreneur Baba Ramdev to political leaders such as Andhra CM N Chandrababu Naidu have raised the demand to abolish / recall & withdrawal of high denomination currency notes such as INR 1000 and INR…More