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 12,2020

Kochi, Jul 12: The two main accused in Kerala gold smuggling case, Swapna Suresh and Sandeep Nair have been arrested by the National Investigation Agency (NIA). Both the accused will be produced before NIA court in Kochi, Kerala on Sunday.

Swapna Suresh and Sandeep Nair were detained by NIA from Bengaluru, Karnataka on Saturday.

Swapna is named as the second accused and Sandeep has been named as the fourth accused in the FIR taken by NIA and both have been slapped with Unlawful Activities (Prevention) Act, 1967, (UAPA) along with first accused Sarith PS and third accused Fazil Fareed
Already, Sarith PS was arrested by the Customs, while Fazil Fareed is still at large. 

NIA officials yesterday conducted a detailed interrogation of Sarith after reaching the customs office in Kochi where he is in custody.

The Customs Department had on July 5 seized 30 kg gold worth Rs 15 crore concealed in diplomatic consignment at the Thiruvananthapuram international airport.

The NIA on Friday registered a First Information Report (FIR) against Sarith Kumar, Swapna Suresh and Sandeep Nair, the three persons allegedly involved in the case.

The agency has charged them with offences under various sections of the Unlawful Activities Prevention Act.

Swapna Suresh was on the run following the gold seizure. She was employed in Space Park and Kerala State Information Technology Infrastructure Limited (KSITL), which comes under the IT department, a portfolio held by Kerala Chief Minister. She was ousted after being named an accused in the case.

Sarith Kumar, an accused in the case who had previously worked as a public relations officer (PRO) in UAE Consulate-General's office in Thiruvananthapuram, was arrested on July 6.

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coastaldigest.com news network
May 4,2020

Mangaluru, May 4: As the coronavirus lockdown norms have been relaxed in the coastal district of Dakshina Kannada, people will be able venture out for essential activities from 7 a.m to 7 p.m.

The lockdown was imposed in the coastal district on March 22 midnight to prevent the spread of Covid-19. Initially it did not apply to essential services such as sale of food, groceries, milk, vegetables, fruits, and meat and fish. Gradually the administration had to intensify the lockdown and allow those shops to remain open between 7 a.m. and 12 noon. However, today (May 4) onwards there will be relaxation of lockdown between 7 am to 7 pm. 

Precautionary measures like maintaining social distancing has been urged and use of face masks has been made mandatory.

Permitted activities

• Permission for plying of auto-rickshaws, cabs, private vehicles and bikes has been given. However only three occupants, including the driver will be allowed and no pillion rule is applicable for two-wheelers.

• OPDs, medical clinics are permitted to operate.

• Standalone shops, shops located in neighbourhood colony, residential complex will be allowed to operate.

• Private organisations can function with 33% staff capacity while allowing work from home for rest of staff.

• E-commerce activities only for essential goods permitted.

• In site construction activities in urban areas, rural areas including MNREGA works.

• Permission is only available to open the shop in the market and in the market complex.

Prohibited activities:

• Movement of individuals is not permitted for all non-essential activities.

• Travel by air, rail and inter-State movement by road.

• Functioning of schools, colleges, and other educational and training/ coaching institutions.

• Hospitality services, including hotels and restaurants.

• Cinema halls, malls, gymnasiums, sports complexes, bars, clubs, swimming pool, entertainment parks, assembly halls, etc; barber shops, spas and salons, textile and apparel(clothes) shops.

• Social, political, cultural, academic, entertainment, religious and other kinds of gatherings; and, religious places/ places of worship for public. 

• Shops in urban and rural areas, for non-essential goods not allowed in malls, markets and Market Complexes.

• All types of traffic movements will be prohibited after evening (7 pm to 7 am)

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News Network
January 29,2020

Jan 29: Karnataka Tourism Minister, CT Ravi came up in support of BJP leader Anurag Thakur, and made a controversial statement in the process.

Ravi recently took to Twitter to express his views on Thakur facing probe for allegedly making provocative statements. In his tweet, Ravi said that "anti-nationals should get bullet not biryani".

"Those attacking Union MoS @ianuragthakur for his statement against traitors are the ones who - opposed death to terrorirts Ajmal Kasab and Yakub Memon, supported tukde tukde gang, spread lies against CAA. Anti-nationals should get bullet not biryani," Ravi tweeted.

Earlier, Thakur had allegedly made slogans like "Desh ke gaddaro ko, goli maaro saalo ko (shoot the traitors)" multiple times during a public meeting in Delhi. He had also faced a show-cause notice from the Electon Commission, asking a response from him on January 30.

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