Monday, September 11, 2017

To REVAMP the (Direct) TAX CODE - latest MoVe ?!

INCOME TAX LAW- A Fresh Move < ...><.... ><.....> .....?!


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As summed up:

The new approach >
Functional specialization: I-T dept. will attempt to split the functions to enhance efficiency in carrying out assessment, verification, raise demand, initiate recovery, and pass orders
Jurisdiction-free assessment: This will mean any officer can send a notice to any taxpayer across the country
Taxpayer segmentation: Differential treatment for small and large taxpayers
"The government should give a breather to India Inc. since it is already dealing with several changes such as GST, the new Companies Act and the new accounting standards," said Sudhir Kapadia, national tax leader at Ernst & Young. Rahul Garg, who leads the direct tax practice at Pricewaterhouse Coopers, said starting from a zero-based approach was essential to deal with the global alignment of tax systems as well as technological invasion.


<> Any tax professional,  in tax practice, for obvious reasons , need tobe wary of, also give serious thoughts, in advance, to the freshly
mooted further changes in the tax regime. 

For useful FEED, attention may be invited to the not-so-outdated,

but being of every relevance,  to the related POSTS herein; so also 

on Facebook / LInkedin.

Ease of Doing Business  (in India)

Less government , MORE  GOVERNANCE

> Stressing the same Idea / The Home-Truth but  driving home, differently /more explicitly :

More of Legislation nd Less of Regulation  (or IMPLEMENTATION / ENFoRCEMENT - leading to the least of COMPLIANCE ) 

A Random QUOTE  (nani): 

< LOrd ATkin - remembered >

 A Famous Quote >

TAGS (old Blogs):  New Company  Law, GST Code....