The draft direct taxes code has come just when elections are due. It's time is suspect, and its contents are not the best possible. Best to let the next government take a better call
Chief Minister Arvind Kejriwal along with Transport Minister Saurabh Bhardwaj tonight met the contractual drivers and conductors of DTC who have been on a strike since yesterday at the Millennium Depot here.
Other highlights of the year on tax front was imposition of 0.01 percent transaction tax on non-agri futures traded on the bourses amid apprehensions that the move will lead to shifting business to either illegal 'dabba' trading or overseas commodity exchanges.
With the winter session of Parliament ending last week without doing much serious business, the government has, for now at least, given a quiet burial to the long-pending bills to reform taxation in the country.<br /><br />
To meet the expected revenue target, it would be better for the government to start mopping up its non-tax revenue right from the beginning, says Dharmkirti Joshi, senior director and chief economist at Crisil
Chidambaram wants a complete reworking of the DTC Bill, which had been substantially changed under former finance minister Pranab Mukherjee from what was initially formulated under Chidambaram's guidance.
India has faced bad economic reality even in 2008 but everyone was not talking down the economy as much then. But Godrej admitted even the government was more positive and enjoyed better credibility than it does now.
There is nothing as energising as tax cuts. I am opting for a simple regime where taxes are extremely reasonable and easy to calculate and pay.
BJP leader Yashwant Sinha-headed parliamentary standing committee on finance will meet today to finalise its report on the Code Bill.