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 7,2020

Chamarajanagar, Feb 7: Health authorities in Karnataka have constituted a mobile team of doctors to monitor villages sharing a border with Kerala districts.

Strong vigil is being maintained by the health authorities in Karnataka after three confirmed cases of Coronavirus was detected in Kerala.

Kerala Health Minister KK Shailaja on Wednesday had informed that three positive cases of Coronavirus were found in the state and other suspects were being monitored in isolation.

The virus originated in Wuhan in December and has since then spread to various parts around the world.

China has imposed quarantine and travel restrictions, affecting the movement of 56 million people in more than a dozen cities, amid fears that the transmission rate will accelerate. 

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News Network
May 19,2020

Bengaluru, May 19: Containment zones in Karnataka will be much smaller in size under the latest lockdown norms. However, rules and loopholes will be tightened and action against violators will be stringent in order to check the spread of the disease.

Revised guidelines issued by the Centre to the state, reveal containment zones are delineated based on mapping of cases and contacts. Intensive action will be carried out in these areas with the aim of breaking the chain of transmission. Therefore, the area of a containment zone should be appropriately defined by the district administration/local urban bodies with technical inputs at local level.

The health department is considering shrinking the size of containment zones from the existing 100 metres to open up more space for economic activities. Medical education minister K Sudhakar, also a member of the Covid taskforce, said additional chief secretary (health department) Javed Akthar will issue a new definition of a containment zone after the Covid-19 taskforce holds its next meeting.

“We are planning to further shrink it and restrict containment zones to an apartment complex, independent house or even a lane where the Covid-19 patient resides,” Sudhakar said. He went on to say bigger containment zones will impede businesses and normal activities in the vicinity, something which the government wants to avoid.

The minister said Karnataka will also do away with colour-coding districts. “With restrictions being relaxed for almost all activities, it does not make sense to pursue with colour codes. It is either containment zone or outside containment zone,” he said.

In rural areas, the minister said containment zones will be identified by the taluk heads. Government sources say it is difficult to restrict activities to certain areas or smaller location in rural areas as farmers and people will have to travel to the outskirts of their villages for their livelihood.

An official said, a containment operation (large outbreak or cluster) is deemed successful when no case is reported in 28 days from the containment zone.

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News Network
January 24,2020

Mangaluru, Jan 24: The third annual nocturnal Mangaluru Kambala, also known as the Rama Lakshmana Kambala, will be held on the night of January 25 at Goldfinch City in Bangra Kuluru, Mangaluru Kambala Samithi president Brijesh Chowta announced on Friday.

The all-night Kambala will have six categories - Naegilu Kiriya, Hagga Kiriya, Naegilu Hiriya, Hagga Hiriya, Kane Halage and Adda Halage.

The event will be inaugurated at 0930 hrs on January 25 and another programme will be held at 1800 hrs.

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