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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coastaldigest.com news network
July 26,2020

Udupi, Jul 26: Two persons including a lady doctor have been arrested by the Kaup police in Udupi district for trying to use fake salary documents to avail loan from a bank to buy a car. 

According to police, on July 24, the doctor had visited Bank of Baroda's branch office at Kaup Moodabettu. She had approached the branch manager for a car loan for herself and her brother. She claimed that her monthly salary is Rs 2.66 lakh.

The bank verified the details furnished along with the loan application. The bank found that even though the doctor had furnished salary slips of Manipal Academy of Higher Education, she was presently not employed there.

The bank manager has filed a complaint at Kaup police station, accusing the doctor of trying to cheat the bank by availing loan on the basis of fake documents.

The police registered a case and nabbed her when she visited the Katapady branch of the same bank today. The police also arrested a man, who according to the doctor, created fake documents for her.

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News Network
May 24,2020

Bengaluru, May 24: In an effort to protect passengers and staff from the risk of COVID-19 transmission, the Bangalore International Airport Limited (BIAL) has introduced a parking-to-boarding contactless journey at the airport.

With a greater emphasis on minimum touch and minimum exposure between passengers and airport personnel, BIAL aims to minimise all physical contact at the airport. The technology will continue to enable a seamless airport journey, with greater emphasis on health and safety.

"As the gateway to a new India, BLR Airport has a key role to play in helping passengers through this global health crisis by reassuring them that their safety is our top priority. We have introduced innovative contactless procedures to minimise exposure at the airport," said Hari Marar, MD and CEO, BIAL.

"These enhancements demonstrate our continued commitment to keep our passengers safe in this environment. We believe our new measures will boost confidence among passengers," continued Marar.

"BLR Airport is all geared up to welcome our passengers back and - working with various government departments - we're committed to offering them a safe experience by implementing the best-in-class standards, procedures and practices," Marar added.

Earlier, Civil Aviation Minister Hardeep Singh Puri said that domestic flight operations will resume from May 25 noting that all airlines and airports were ready but it is not viable to keep the middle seat vacant as it will lead to hike in the ticket price and prescribed social distancing norms would still not be met. 

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News Network
July 12,2020

Thiruvananthapuram, Jul 12: At least 66 children have ended their lives in Kerala since the Covid-19 lockdown began on March 25 with youngsters facing stress unable to bear the unprecedented situation where schools are shut and friends are out of reach to share their woes.

According to Chief Minister Pinarayi Vijayan, there has been an increasing instance of suicidal tendencies among children in the state due to various reasons, including parents scolding them over mobile phone use and failure to attend online classes.

This has prompted the government to launch a teleconsultation facility for children facing stress and also cautioning parents against hurting their sentiments while being concerned about welfare of their wards. It has also ordered a study into the issue. "Among the children an increasing instance of suicidal tendency is being witnessed which will become an extremely serious social issue.

Since March 25, when the national lockdown was imposed, 66 children, below 18 years of age, have ended their lives due to various reasons", Vijayan said. A mother scolding her child for not attending the ongoing online classes, or a parent questioning a child for downloading a sleazy video on the smartphone or the constant rift between the parents were among the reasons which triggered the suicidal tendency, he said on Saturday.

As the schools have not yet re-opened due to the lockdown, the children are unable to meet their friends and share their problems. Vijayan said though the parents were intervening keeping in mind their child's welfare, it was essential to ensure that the young minds were not hurt in the process. To helpthe children facing issues relating to mental pressures, 'Chiri'atele-counselling initiative has been started by the government under its Our Responsibility to Children Programme (ORC), a planned community intervention that connects with people between the age of 12-18 years. The state health department has also launched "Ottakalla Oppamundu" (You are not alone,we are with you) programmeto help children facing any kind of mental distress and to prevent the suicidal tendencies among them.

Health Minister K K Shailaja said under the psychosocial support assistance, her department has so far reached out to 68,814 children and 10,890 children have been given counselling. The changes in the behaviour of their children should be noted by the family members and if they find something amiss, the district psychosocial help desk should be informed, she said. A 15-member team of Students Police Cadets will be constituted in each of the 14 districts to help the children needing any assistance,police sources said. Education should not be a competition, but a means to gain knowledge, Vijayan said.

A society's future lies with the children and it is the duty of the society and the government to ensure their physical and mental well being. Taking a serious view of the situation, the state government has constituteda committee headed byFire and Rescue Services DGP R Sreelekha to conduct a study on child suicides in the state. The aim of the ORC was also to create a multi collaborative platform for government and professional agencies, parents and teachers to equip youth with appropriate know-how to face challenges, officials said. 

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