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
February 22,2020

Bengaluru, Feb 22: President Ram Nath Kovind on Saturday said an ideal trade-off needs to be reached between new media -- which is fast and popular -- and traditional media which has developed skills to authenticate a news report, which is a costly operation.

Addressing the fourth edition of ‘the Huddle’ – the annual thought conclave of the Hindu here, he asserted that the internet and social media had democratised journalism and revitalised democracy, but had also led to many anxieties.

While the new media was fast and popular and people could choose what they wanted to watch, hear or read, traditional media would have to introspect on its role in society and find ways to earn the reader’s full trust again as "the project of democracy was incomplete without informed citizens – which means, without unbiased journalism."

Debate and discussion were internalised in India’s social psyche to arrive at truth since time immemorial, he said.

"There is no doubt that perception of truth is conditioned by circumstances. The conditions that cloud the truth’s positions are effectively dispelled by a contestation of ideas through debate, discussion and scientific temper. Prejudices and violence vitiate the search for truth."

Expressing happiness to attend ‘The Huddle’ organised by The Hindu, he said the Hindu group of publications had been relentlessly aiming to capture the essence of this great country through its responsible and ethical journalism. He commended them for their insistence on sticking to the five basic principles of journalism – truth-telling, freedom and independence, justice, humaneness and contributing to the social good, an official release here said.

Mr Kovind said dogmas and personal prejudices distorted the truth. In the 150th year of Gandhiji’s birth, he asked all to ponder over this question: "will it not be proper to pursue truth itself as the ideology? Gandhiji has shown us the path by walking ceaselessly in search of truth which would ultimately encompass every positive attribute that enriches the universe."

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Agencies
February 23,2020

Bengaluru, Feb 23: As India gears up to welcome Donald Trump on his maiden visit to the country, a kite artist flew a special 15-feet long kite to welcome the US President.

VK Rao, an international kite artist from Karnataka, crafted the special kite, which included the photographs of both Trump and Indian Prime Minister Narendra Modi, with the messages 'Namaste Trump' and 'Welcome to India'.

Speaking to ANI, Rao said: "We have created and flown this special kite to welcome the US President. The kite is 15 feet long."

Earlier, an Amritsar-based kite maker in Punjab had designed special kites to welcome Trump.

"As Donald Trump will be visiting India, so I have made some kites to welcome him. There are kites with pictures of PM Narendra Modi and Donald Trump," said Jagmohan Kanojia, the kite maker.

Preparations are on across the country to welcome Trump, who is scheduled to visit India on February 24 and 25.

During the visit, Trump is scheduled to participate in a roadshow with Prime Minister Narendra Modi and will address a gathering at the Motera stadium.

On Monday evening, the President and his family will be visiting the Taj Mahal in Agra.

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Agencies
March 10,2020

Bhopal, Mar 10: Senior Congress leader Digvijay Singh on Tuesday parried questions on the exact number of MLAs supporting the party in Madhya Pradesh amid a political crisis triggered by the resignation of Jyotiraditya Scindia and 14 MLAs loyal to him.

Repeating his allegation that the BJP was trying to destabilise the Congress-led government, Singh told reporters that the BJP had arranged three chartered planes for Bengaluru on Monday to fly out some MLAs loyal to Scindia.

"We want to know why Bengaluru is used every time to destabilise governments?" he questioned.

When asked about the number of MLAs supporting the Congress in the current political scenario, Singh only said, "Just wait".

He said an atmosphere of uneasiness has been prevailing in the BJP since the Kamal Nath government started cracking a whip on various mafias.

"We (the state government) are exposing Vyapam scam, e-tendering scam, Madhyam scam. In the honey-trap case, BJP men were found to be involved. This will be exposed," he said.

The political crisis in Madhya Pradesh precipitated with the resignation of Jyotiraditya Scindia over his apparent marginalisation in the state politics. Following Scindia's suit, 14 legislators loyal to him have sent their resignation letters via e-mail to Madhya Pradesh Raj Bhavan.

Scindia was subsequently expelled from the Congress by party president Sonia Gandhi.

Speculation that the Guna royal might join the BJP gained ground after he met Prime Minister Narendra Modi in Delhi this morning.

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