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This tax levy (burden) was invited by the tech industry themselves, through their super-smart tax planning (some may call it as evasion). Governments are forced to take actions to plug some of the holes and as an additional safeguard against BEPS (Base Erosion and Profit Shifting). I hate to admit it, but Governments are right here, they can’t simply watch as their revenue gets eroded with the economy shifting to digital. Among many of the ‘bad’ tax ideas, I suppose this 2% Additional Equalisation Levy appears to be okay. The application threshold set by India, of a turnover of Rs.2…

//Vodafone Group Plc has won an international arbitration in The Hague against the Indian Government in a $2 billion tax dispute// I wish the Government of India gives-up its decades of vain pursuit in this issue. The imposition of this tax bill turned the perception of international investors towards India from good to bad overnight. Unfortunately, even after 13 long years, this dark cloud hangs over India & hurting investor sentiments. Leaving the legal details & technical validity aside (where I am no expert), the underlying premises on this tax bill was weak: It was a retrospective law passed by…

This was expected! In the last many years, the Government of India has taken advantage of falling Oil prices by continuously increasing excise duty, helping its coffers. It is conventional wisdom that taxes once raised will never come down, as subsequent budgets use it as the baseline for their revenue planning. Given the “said to be” poor tax collections due to slowed economy, this excise-duty hike was expected. Yet, I feel this is the time for Government to slash the taxes, spur the spending, and boost the economy which is starting to feel the added pain of Coronavirus as well.…

Today, I had an opportunity to meet Hon’ble Governor of Tamil Nadu Shri. Banwarilal Purohit at Raj Bhavan, Chennai – I had tagged along with a few dignitaries to invite him for an academic event which he readily agreed. In the few minutes of our interaction, the Hon’ble Governor came out to be courteous and a straight talker. I had listened to his speech in March 2019 at the inauguration event of “Dr APJ Abdul Kalam Save Forest program” in Vel’s University. He mentioned a story of how the local Peepal Trees were saved during the formation of the Kota…

WOW! I never expected taxman to wish me for the new year and offer a calendar. A nice initiative by Income Tax India with this e-calendar for 2020 with important due dates for the year. It will be useful for taxpayers, auditors and accountants. We need more of these citizen-friendly initiatives and less of the ambiguous policies and harassment. Thank you, Hon’ble FM @nsitharaman and the entire ministry. Please keep it up.