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GST done, govt to now take up income tax laws overhaul

DHNS
July 2, 2017

New Delhi, Jul 2: After the historic GST, the government may soon take up an overhaul of income tax laws. Prime Minister Narendra Modi has hinted at a revisit to the Direct Taxes Code (DTC).it

The finance ministry mandarins said the Prime Minister’s comment that Albert Einstein too found it difficult to understand India's income tax laws is being taken as the beginning of an overhaul of complex income tax laws.

“Once Albert Einstein, an eminent scientist had said that the most complex thing to understand in this world is Income tax. I was wondering if he was present here then how he would have reacted looking at the plethora of taxes,” Modi had said addressing a huge gathering of lawmakers, industry and prominent citizens from social sector soon after launching GST from the Central Hall of Parliament on late Friday night.

His remark came close on the heels of a come Parliamentary Committee on Finance urging the government to implement DTC within a stipulated deadline along the lines of the goods and services tax (GST) regime.

The report of the Standing Committee on Finance which was tabled in Parliament recently went on to say that without implementation of DTC, the intended gains of GST will not be felt.

The Committee headed by senior Congress leader Veerappa Moily said the purpose of a direct tax reform will be defeated that if the government kept on doing piecemeal amendments in income tax laws.

Soon after Modi’s reference, reforms in direct taxation and giving benefits of revenues generated through GST also figured in Finance Minister Arun Jaitley’s comments late on Saturday.

Currently, the government is busy with implementation of GST. Only 48 hours before the launch of independent India’s biggest tax reform, deregistered and ordered closure of more than 1 lakh companies which were found tampering with their accounts after November 8 demonetisation.

Over 3 lakh companies have been identified for action and the government has been collating data on transactions of more such firms post the note ban as part of a broader strategy to clamp down on corruption and black money.

Comments

Keshavamurthy
 - 
Friday, 7 Jul 2017

i dont know why people are supporting this vote bank protest.

Abdul
 - 
Thursday, 6 Jul 2017

Rightly said, huge respect sir

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News Network
July 5,2020

Bengaluru, Jul 5: A 50-year-old woman with breathing difficulties died on Saturday after a shortage of beds forced 12 hospitals to refuse admission.

Her husband Babu said the family had approached 12 hospitals in three days, including Victoria Hospital and other private facilities, who all slammed their doors on them, citing a shortage of beds. The woman died on Saturday, a few minutes into her admission at KC General Hospital.

Second death 

A 35-year-old man, Manjunath, also died on Saturday after enduring fever for three days and being refused admission at several hospitals due to a shortage of beds.

As his condition worsened, his wife admitted him to a private hospital on Saturday after hours of ordeal. But the man died less than 15 minutes after getting admitted. Hospital authorities took swab samples from the deceased and said the body would be handed over after the test results.

BBMP personnel also failed to shift the body of a Covid-19 patient in Kalasipalya almost a day after the death.

Despite civic workers disinfecting the place, the neighbours were in a state of panic after the body was kept at home.

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News Network
April 6,2020
Mangaluru, Apr 6: Agricultural produce vendors have decided to hold an indefinite strike from Monday here in city's Central Market.
 
This move comes in response to district administration’s order asking them to shift to the APMC yard at Baikampady and not heeding to their appeal to allow them to operate from the Market and other areas in the city.
 
The district administration has decided to shift the vendors in order to prevent crowding in the market and maintain social distancing norms.

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News Network
May 12,2020

Bengaluru, May 12: People returning to Karnataka from other states will have to remain in quarantine">institutional quarantine even if they are asymptomatic, according to Department of Health and Family Welfare Services, Government of Karnataka

"All persons returning to Karnataka from any State, symptomatic or asymptomatic shall be kept in quarantine">institutional quarantine," read an order issued by the State Health and Family Welfare Services.

It further read, "For persons claiming to come from Goa, Deputy Commissioner of receiving district should verify and in the event of adequate capacity not being available, can put them in home quarantine for a period of 14 days, if the claim regarding the origin state is confirmed."

"Deputy Commissioner/Special Commissioner, BBMP will fix the rates for hotels where such returnees will be staying on a payment basis," the statement read.

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