Record Details

Strengthening Financial and Taxation Regulatory Framework in India: A Review of Recent Legislations

VISION: Journal of Indian Taxation

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Field Value
 
Title Strengthening Financial and Taxation Regulatory Framework in India: A Review of Recent Legislations
 
Creator Jain, Sandeep
 
Subject Financial system; Taxation; Money laundering; Black money; Credit information.
 
Description A number of legislations and institutional measures have been implemented in recent times by the government of India to ensure an efficient financial and taxation system. These measures focus on developing an unambiguous legal framework and transparent supervisory procedures. This paper reviews some of the recent legislations in this regard which are aimed at brining our financial and taxation system in alignment with the changing environment. Some of the legislations reviewed include Prevention of Money Laundering Act, 2002; Credit Information Companies (Regulation) Act, 2005; Government Securities Act, 2006; Payment and Settlement Systems Act, 2007; Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 and Financial Sector Legislative Reforms Commission (FSLRC), 2013. An overall assessment of these reforms shows that a number of effective legislations are being put in place for an efficient and transparent financial and taxation system and India remains committed to adoption of international standards and best practices wherever necessary.
 
Publisher Journal Press India
 
Date 2018-09-03
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.myresearchjournals.com/index.php/VISION/article/view/13237
10.17492/vision.v5i1.13237
 
Source VISION : Journal of Indian Taxation; Vol 5, No 1 (2018)
2347-4475
 
Language eng
 
Relation http://www.myresearchjournals.com/index.php/VISION/article/view/13237/12595