'Budget will have Stipulations for Simplified Taxation'

NewsVoir | 10 Nov, 2016
Minister of State for Finance, Mr. Arjun Ram Meghwal on Wednesday promised that the forthcoming budget would have stipulation and provisions that would lead to further simplification of tax administration and tax dispensation of both direct and indirect taxes to enable business community to render their transaction smoothly and effectively.

(L-R)-Chairman, Direct Taxes Committee, PHD Chamber, Mr. Anil K Chopra, Minister of State for Finance Mr. Arjun Ram Meghwal and Vice President, PHD Chamber, Mr. Anil Khaitan

In his Valedictory address at International Tax Conference : Global Tax Issues & Recent Developments under aegis of PHD Chamber of Commerce and Industry here today, Mr. Meghwal described the demonetization move of the NDA government as a step that would severely attack the menace of cross border terrorism and its funding besides substantially reducing the threat of rising black money.

âTax administration and tax policies need to be further simplified to promote ease of doing business as well as its facilitation. The forthcoming budget would reflect and adequately cater to this effectâ, said Mr. Meghawal adding that the government of the day is committed to eliminate corruption and red tape.

âThe decision to demonetize the Rs.500 and Rs.1,000 notes is one such step in this direction and many more such moves would follow as Prime Minister Mr. Modi is determined to purge the system from all its ailmentsâ, said the Minister.

Among others who spoke on the occasion comprised Member, Competition Appellate Tribunal, Ms. Anita Kapur; Vice President, ITAT, Mr. G D Agarwal; Vice President, PHD Chamber, Mr. Anil Khaitan; Chairman, Direct Taxes Committee, PHD Chamber, Mr. Anil K Chopra.