Shome Committee and TAS Reports

25 takeaways from Shome Committee recommendation on retro amendments
Shome Committee report says retro amendments in Sec 9 not clarificatory; Retro change to expand tax base against the basic tenet of the law; Parliament endowed with plenary powers of legisla...
25 key takeaways from Final Shome Committee Report on GAAR
Govt further dilutes grandfathering for investments under GAAR; Investments made before introduction of DTC Bill, 2010 (i.e. before Aug 30, 2010) to be grandfathered; Report recommends Approving Panel...
Everything you need to know about Tax Accounting Standards
The Accounting Standards Committee set-up by the CBDT, in its 123 pages report, has recommended 14 new Tax Accounting Standards (TAS). Some of the key proposals in TAS include adoption of bucket appro...