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
May 17,2020

Bengaluru, May 17: Karnataka Deputy Chief Minister and Transport Minister Laxman Savadi on Sunday wrote to Union Minister Nitin Gadkari requesting to issue new lockdown guidelines including permission to operate public transport and said the lockdown has caused a financial loss of Rs 16,00 crore to all four Karnataka Transport Undertakings.

In view of these problems, the state Transport Minister requested Gadkari to permit the deployment of Non-AC buses on scheduled routes to ensure the adequacy of services.

The four State Transport Undertakings (STUs) in Karnataka which are providing bus-based public transport services within the state and to the neighbouring states are Karnataka State Road Transport Corporation (KSRTC), North West Karnataka Road Transport Corporation (NWKRTC), North Eastern Karnataka Road Transport Corporation (NEKRTC) and Bangalore Metropolitan Transport Corporation (BMTC).

"KSRTC, NWKRTC and NEKRTC operate buses for mofussil services i.e. Interdistrict, intradistrict and interstate, whereas BMTC operates only in urban and suburban areas in the city of Bengaluru. The four STUs put together hold a fleet of about 24,900 buses including 1,520 air-conditioned buses and operate about 71.00 lakh km. per day and carries about 98.00 lakh passengers every single day," Savadi outlined in the letter.

The Minister said due to the COVID-19 outbreak and the lockdown that ensued have brought regular bus operations and functioning to a grinding halt.

"This has caused a devastating impact on the operations of all the four STUs due to the combination of lack of revenue and continuing fixed costs such as salaries and pensions to staff, payables against existing loans etc. It has been estimated that the lockdown has caused a financial loss of INR 1,600/- crore to these four STUs," he added.

Savadi said even after post-COVID lockdown, operations and revenues won't reach its previous demand& supply patterns in the next six to eight months due to reduced economic activity and users' perceived risk of contacting COVID in public transport.

In addition to that, "occupancy should be allowed up to seating capacity (without standees). This is essential to meet minimal demand," he said in the letter.

"The crew should wear facemask and hand gloves. The crew with health issues should not be deployed. The face masks should be made mandatory for all the passengers. Only asymptomatic persons should be allowed to travel in public transport. The Government of India may consider staggering working hours for various sectors to reduce peak hour traffic demand," the minister listed out these recommendations in the letter.

Savadi said that with social distancing norm of reduced seating capacity in public transport, it will not be possible to provide transport facility to all the daily passengers. This will create demand for more buses, which cannot be met.

"Restrictions on public transport will lead to passenger commute by overcrowding in smaller vehicles like cars, maxi cabs, goods tempos etc. which will adversely affect preventive measures," he added.

Therefore, Savadi requested Union Minister to look into the above matter and issue fresh guidelines to all the states / UT's.

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News Network
April 29,2020

Udupi, Apr 29: Personal Protection Equipment (PPE) kit used by the doctors to treat COVID-19 patients was found in the river at Kodangala, Alevoor Gram Panchayat limits, sources said on Wednesday.

According to them, a Panchayat office staff who noticed the PPE thrown in the river informed the Health Department about it on Tuesday and following which a police complaint was filed.

As the PPE is used only for medical treatment, police officials need to investigate who used the kit and in which hospital, who threw it in the river and the purpose of throwing it.

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News Network
January 8,2020

Bengaluru, Jan 8: The Karnataka high court on Tuesday directed the government to submit steps taken in respect of the order of Lokyukta in relation to the Kethaganahalli landgrab case involving former chief minister HD Kumaraswamy, his relatives and former minister DC Thammanna.

A division bench headed by Chief Justice Abhay Shreeniwas Oka gave the direction on a PIL filed by Samaj Parivartan Samudaya (SPS), an NGO. The petitioner said despite an order from the Lokayukta on August 5, 2014, to take action within 15 days, no action has been initiated till date in respect of encroachment of a huge tract of land in Kethaganahalli along Bengaluru-Mysuru highway.

SPS says the land was purchased in 1979 contrary to norms of Karnataka Land Revenue Act. It claims Kumaraswamy and others paid only Rs 5,000 per acre, although the prevailing market rate was Rs 25,000 to Rs 30,000 per acre.

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