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
May 31,2020

Bengaluru, May 31: With places of worship expected to reopen on June 8, the Karnataka State Minorities Commission has released guidelines for mosques and dargahs, that include social distancing, temperature testing and compulsory hand washing.

Abdul Azeem, commission chairman said, "Everyone will have to maintain one-metre distance and carry their prayer mats. They will all be scanned and Farz prayers will be held for 10-15 minutes. Friday prayers should be completed within 20 minutes."

Distribution of tabarukh, shaking hands, and overcrowding inside mosques will not be allowed.  The Muzrai department also issued guidelines for temples, like mandatory face masks, sanitisation of sanctum sanctorum and thermal screening.

In a letter, the Hindu Religious Institutions and Charitable Endowment Department mentioned that while temple authorities and devotees should wear masks, priests, helpers and workers are exempt, in the core area of the temple.

"Devotees should be scanned using infrared thermometers at the temple entrance, and must be given hand sanitiser. The temple trust is expected to bear the expenses," it added.

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coastaldigest.com web desk
July 13,2020

Mangaluru, July 13: A week-long lockdown will be imposed in Dakshina Kannada from the night of July 15, according to district in-charge minister Kota Srinivas Poojary.

The decision was taken in a meeting of elected representatives in the presence of Deputy Commissioner Sindhu B Rupesh. The DC is expected to issue guidelines for the lockdown soon. 

In a video message, Poojary said that during the video conference, chief minister B S Yediyurappa asked the administrations and elected representatives of the respective district to take a call on re-imposing lockdown to check the mounting coronavirus cases. 

“We have decided to impose a week-long lockdown from the night of July 15. Hence, people should buy all necessary things for a week before the beginning of lockdown,” he Mr Poojary. 

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News Network
February 28,2020

Bengaluru, Feb 28: BS Yediyurappa’s contribution to the economy is substantial, and he is one CM who has contributed largely to making India the fifth largest economy, said Defence Minister Rajnath Singh on Thursday.

“He will ensure that Karnataka contributes towards making India the third-largest economy in the coming days,” Singh said, who had flown from New Delhi to participate in the CM’s birthday celebrations.

Singh recalled Yediyurappa asking him how to increase welfare measures for farmers, and had suggested that the CM reduce interest rates on loans to help the community. “Yediyurappa took the suggestion seriously and reduced interest of loans to a mere 4 % and gradually reduced it to 1 % before coming down to zero,” Singh said, appreciating Yediyurappa’s love for farmers.

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