Ruckus continued in Lok Sabha for the third day

On Friday, the third day of the monsoon session of Parliament, the Lok Sabha had to be adjourned till 12 noon due to uproar by the opposition. On the other hand, many important bills are to be introduced in the Lok Sabha today. Among the bills to be considered and passed in the Lok Sabha on Friday are the Factor Regulation (Amendment) Bill, 2020, the National Institute of Food Technology Entrepreneurship and Management Bill, 2021.

Similarly, the Inland Vessel Bill, 2021 and the Compulsory Defense Services Bill, 2021 are to be re-introduced in the Lok Sabha today.

See also The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved anAgreement between the Republic of India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes. Details of the Agreement: i) This is a new Agreement between the Republic of India and Saint Vincent and The Grenadines. There was no such agreement in past between the two countries. ii) Agreement mainly proposes to facilitate exchange of information between the two countries and to provide assistance to each other in collection of tax claims. iii) Agreement also contains tax examination abroad provisions which provide that a country may allow the representatives of the other country to enter its territory (to the extent permitted under its domestic laws) to interview individuals and examine records for tax purposes. Impact: Agreement between the Republic of India and Saint Vincent and The Grenadines will help in facilitating the exchange of information between the two countries including sharing of information held by the banks and other financial institutions encompassing the information regarding the legal and beneficial ownership. It will also facilitate the assistance in collection of the tax claims between the two countries. Thus, it will strengthen India's commitment to fight offshore tax evasion and tax avoidance practices leading to generation of unaccounted black money. Background: There was no such agreement with Saint Vincent and The Grenadines in the past and India was negotiating this agreement since a long time. Finally, Saint Vincent and The Grenadines agreed to conclude this agreement with India which will promote tax cooperation between the two countries through exchange of information and assistance in collection of outstanding tax claims between the two countries.

Categories

Recent Posts

Ruckus continued in Lok Sabha for the third day

More Stories

CM Dhami attacks Rahul Gandhi; terms remarks about PM Modi’s mother and Ajit Doval as condemnable

Dhami lashes out at Rahul Gandhi over the insult to the PM’s late mother; says – do not cross political boundaries

Congress raises serious questions regarding Kumbh works; BJP hits back at the allegations

You may have missed

Major organizational reshuffle for BJP ahead of 2027; Ram Madhav entrusted with the command of Uttarakhand

Uttarakhand: New IIM Kashipur campus in Dehradun; Chief Secretary performs groundbreaking ceremony

Uttarakhand: A new centre of learning and values in Haridwar; CM Dhami inaugurates Patanjali Ayurved Gurukulam

Uttarakhand: On Ayurveda Day, CM Dhami worshipped Lord Dhanvantari and prayed for the good health of the people of the state