15th Finance Commission to define populism

New Delhi: In a first, the Finance Commission which recommends how much money states should get out of the taxes collected by the central government, will define what a populist measure is and recommend incentives for states that do not resort to them. The 15th Finance Commission, headed by NK Singh, has many firsts to do […]

Interactive Tax

Equalisation levy under Finance Act 2016

[dropcap]S[/dropcap]ince 1 June, the country’s tax system has an equalisation levy on digital transactions in consonance with the initiative of the Organisation for Economic Co-operation and Development (OECD). It is aimed at addressing base erosion and profit shifting (BEPS). On 27 May, the Central Board of Direct Taxes (CBDT) had released rules on the newly introduced equalization levy on specified […]