July – Oct, 2019
Volume 1 | Issue 1
Building a network to share and discuss
Patron :- Sh. Prasana Kumar Dash, Member (Audit & Judicial), CBDT
Editor-In-Chief :- Sh. Krishna Mohan Prasad, Pr. DGIT (Legal & Research), Dte. of L&R
Managing Editor :- Ms. Swati Joshi, ADG (Legal & Research), Dte. of L&R
Executive Editors :- Sh. Rohit Sharma, Addl. DIT (NJRS & CTC), Dte. of L&R
Sh. Abhishek Anand, DDIT (NJRS & CTC), Dte. of L&R
Editorial contact :- [email protected] Suggestions can be submitted on NJRS Portal
Directorate of Legal & Research,
Income Tax Department, Govt. of India,
Drum Shaped Building,
I.P. Estate, New Delhi–110002
To provide a platform and build a network amongst tax officers, tax practitioners, eminent personalities, tax payers etc., for sharing and discussing matters related to tax issues, administrative best practices, such other matters as deemed to be of educational/professional value etc., with a view to promote effective and litigation-free tax administration, voluntary compliance and tax payer service.
1) To invite and publish articles relevant to tax policy, legal issues and tax administration from the fellow officers, tax practitioners, eminent personalities and tax payers;
2) To disseminate the best practices in tax administration, e-governance initiatives, innovation in administrative matters, newer tax-payer friendly initiatives etc.,
3) To update the knowledge of the officers about latest and important legal/judicial developments in the field of direct taxation;
4) To provide a knowledge sharing space for the Officers to raise current and critical issues with a view to facilitate live discussions on-line and to share experiences;
5) To publish any other material relevant for improving the effectiveness and efficiency of Income Tax Department, enhancing professions competency and developing human resources;
The thoughts views and opinions expressed in the texts belong solely to the author, and do not purport to be the view of the Income Tax Department. The content uploaded on the portal should not be used before Courts as the stated policy or position of Income Tax Department. Readers are advised to ascertain the correct position/prevailing law before relying on the document.
Undertaking by Authors
The author certifies that the reported work submitted for publication in Taxalogue is an original work and has not been published elsewhere. The author further certifies that proper citations to the previous reported work have been given and no data/tables/figures have been quoted verbatim from other publications without giving due acknowledgement and without the permission of the original author(s).
Minister of Finance and Corporate Affairs
Government of India
The Tax Policy, which feels the pulse of the public and addresses their concerns while raising taxes for the Government is considered as the most progressive one. On the other hand, if it ignores the ground reality, it arouses adverse public sentiments. Therefore, to avoid such a scenario, it is important to hear-out all the stakeholders during the making of the Tax Policy. In a democratic regime, it is expedient to have a continuous and progressive dialogue with all the stakeholders, namely, the tax-payers, the tax advisors, the taxmen and the jurists.
The Directorate of Legal and Research, under the Audit and Judicial Division of Central Board of Direct Taxes, the Apex tax policy making body, is starting a quarterly e-journal `Taxalogue’ to provide a platform to all the stakeholders to express their views through their researched articles on taxation matters. I am sure that this e-journal participative forum, which will go a long way in increasing the domain knowledge and professional expertise of the Department. The authors will examine the best practices of various countries and customize those for our country, so that the policy makers will benefit from the wisdom and the experience of the eminent jurists, tax experts, tax payers and the taxmen. This will help in reducing the litigation in the Income Tax Department, as it will attempt to bring convergence of views and create a healthy eco-system for taxation in the country.
Wishing all the success for such an effort of the Audit and Judicial Division of Central Board of Direct Taxes and hope that `Taxalogue’ becomes a torch-bearer for the innovative and responsive taxation policies.
MINISTER OF STATE FOR FINANCE
AND CORPORATE AFFAIRS
GOVERNMENT OF INDIA
NEW DELHI – 110001
Anurag Singh Thakur
Central Board of Direct Taxes, the apex tax policy making body constantly tries to take new initiatives, be it e-filing of returns or be it e-assessment, or better services to taxpayers. It is important to create a platform on judicial and legal issues which captures the views of the taxmen, the eminent jurists and the tax advisers. This will not only help all the stakeholders to better appreciate the tax policy and its nuances, it will also bring convergence of views and reduce litigation.
I am happy that the Audit & Judicial Division of CBDT is coining up with `Taxalogue , a quarterly e—journal shall provide an interactive forum to analyse the various burning issues of taxation, from all angles and will reduce the vexing issues. A large number of litigations can be avoided, if there is healthy exchange of views among all the stakeholders and there is osmosis of ideas and analysis in tax policy.
I would like to extend my best wishes to Audit & Judicial Division of Central Board of Direct Taxes on publication of first issue of `Taxalogue’.
(Anurag Singh Thakur)
Ms. Swati Joshi,
Additional Director General (Legal & Research)
Welcome to the inaugural issue of e-journal `Taxalogue’ , a platform for all stakeholders of tax matters to express their views and share experiences. The journal is dedicated to providing a means to taxmen including officers, staff, jurists, and all other stakeholders to share their experiences and wisdom to enable a more responsive and analytical approach to taxation matters and its various nuances.
Indian economy has been integrating with global economies very fast in recent years. Not only big corporates but also small traders have export/import portfolios. Also, a fast growing domestic Indian economy along with initiatives in tax administration has ushered large number of new taxpayers into the economy. With these opportunities come challenges of legal disputes as some issues have never been faced by taxmen or taxpayers, or some confusion exists. It is important to have a forum for dialogue with all stakeholders to ensure that India’s tax administration maintains its taxpayer friendly reputation in word and spirit. CBDT in its constant endeavor to provide taxpayer services and healthy exchange of ideas with taxpayers, has come out with this initiative in form of the e-journal, `Taxalogue’ . It aims to be an evolutionary, robust and flexible platform to share and exchange ideas for the stakeholders.
The articles which find place in the first edition are selected from a wide spectrum of issues concerning taxmen and taxpayers. The wisdom and knowledge of eminent jurists, tax practitioners and senior officers having a wide range of experience over tax matters should make the e-journal widen the horizons of the readers. Further, some case studies to showcase the analysis of issues and innovative solutions are also included to enable broader learning and generate interest in best practices. Articles on taxation of Digital economy and new issues like cloud computing will provide an insight into the new frontiers in taxation.
We extend our thanks to Smt. Nirmala Sitharaman, Honourable Finance Minister, Government of India and to Sh. Anurag Singh Thakur, Honourable Minister of State (Finance), Government of India, whose messages have boosted our morale. We pay special thanks to Honourable Justice (Reid.) Arijit Pasayat, for providing us his words of wisdom. We are grateful to Chairman, Central Board of Direct Taxes, Sh. P.C. Mody for his support in this endeavor. We remain indebted to Sh. P K Dash, Member (A & J), CBDT who envisaged this idea and without whose active supervision, this forum would have remained a dream. We thank Sh. Prabhash Shankar, former Principal Director General of Income Tax (L & R), for his support. Special thanks are due to Sh. K M Prasad, Principal Director General of Income Tax (L & R), for guiding us and lending his support, suggestions and encouragement for this e-journal.
We hope that the readers will find this e-journal interesting and use it extensively for healthy discussion, capacity building and for enriching their skills.
Additional Director General (L&R)
On behalf of the Editorial Team, `Taxalogue’
Central Board of Direct Taxes