Financial Daily from THE HINDU group of publications
Saturday, Sep 07, 2002

Port Info

Group Sites

Industry & Economy - Taxation

Task force on easy direct tax norms formed

Our Bureau

NEW DELHI, Sept. 6

THE Finance Ministry has constituted a eleven-member task force on rationalisation and simplification of direct taxes, chaired by Dr Vijay Kelkar, Advisor to the Finance Minister.

Dr Ashok Lahiri, who will shortly take charge as Chief Economic Advisor, is a member of the panel.

The other members are Mr S.N.L. Aggarawal, Advocate, Mr Arvind Sonde, Advocate, Dr Omkar Goswami, Chief Economist, Confederation of Indian Industry, Dr Urjit Patel, Executive Vice-President, IDFC, Mr T.V. Mohandas Pai, Chief Financial Officer, Infosys Technologies, Dr S. Anantnarayan, Executive Director of Amco Batteries, Mr Dipankar Chatterjee, Chartered Accountant, Kolkata, and Mr P.C. Parmar, Chartered Accountant, Pune.

Mr A.J. Majumdar, Joint Secretary, Central Board of Direct Taxes, is the Member-Secretary of the task force. The panel will submit a draft consultation paper by November-end. The final report will be given by December 15.

The terms of reference of the task force include simplification of direct tax laws with a view to curtailing exemptions, correcting anomalies and improving equity.

It will also suggest measures to improve taxpayer services, reduce compliance costs and facilitate voluntary compliance.

Re-designing procedures to improve compliance and strengthening of the enforcement machinery also figures in the terms of reference.

Send this article to Friends by E-Mail

Stories in this Section
Awards for energy management

`E-courts' in metros from next year
Authority to maintain funds for quake relief
India must open up to attain trade integration, says IMF
Up to $50,000 allowed for medical treatment abroad
Population control initiatives launched
Chennai restaurant guide launched
Krishna project bids opened
Crude imports unlikely to be hit
Karnataka Govt gets more time on Nagarjuna power project
CEA nod for Sipat Stage II
Task force on easy direct tax norms formed
Mills get time to make up hank yarn shortfall
MoU signed for training programme
Truck, bus tyre production up in June
Jewellery expo in Bangalore
Southern comfort for leather garment exports
Hyundai unveils loan scheme for NRIs
Venkaiah Naidu denies rift in NDA over divestment
19 applications for AP sugar co-ops sell-off
Panel for 100% FDI in petroleum, banking
Kerala delegation signs MoU for Chinese FDI
Karnataka Industries Dept not for new regional offices
Plastindia 2003 draws 502 bookings
Light India International 2002
Seminar on HRD trends
42 pc increase in domestic tourist travel
Corruption leads to poverty, says watchdog official

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line