Union Finance Minister Nirmala Sitharaman on Wednesday called for independent research on tax policy to become part of public discourse, saying tax professionals must look beyond sectoral interests and put the national interest first.
Sitharaman was speaking at the Eighth International Tax Conference on ‘New Age Taxation’ here organised by the International Tax Research and Analysis Foundation.
“A mature tax policy debate must go beyond sectoral considerations,” she said, urging tax professionals to “rise above sectoral consideration and put nation first.”
Sitharaman said the government had deliberately rationalised provisions relating to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), raised thresholds and reduced unnecessary criminal consequences.
On international taxation, the finance minister said India renegotiated its tax treaties with Mauritius, Singapore and Cyprus to restore its right to tax capital gains at source.
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