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
March 24,2020

Bengaluru, Mar 24: Bengaluru police registered an FIR against a 23 year-old woman who, while in home quarantine, visited supermarket despite having clear instructions to stay at home.

The Vijayanagar police said that the woman, a resident of Vijayanagar, had returned to the City on March 22 after a visit to Dubai."The city police had visited her house and stamped her for home quarantine and instructed her to stay at home but she visited Reliance Fresh on Monday.

We received information about it and the footage. Following this, we registered an FIR against her under section 269 (negligent act likely to spread infection of disease dangerous to life). We traced her and warned her to stay at home. We are also consulting senior officers and health officers on whether we have to send her to the government quarantine Centre or not,"the police said.

Commissioner of Police Bhaskar Rao strictly warned the people who are home quarantined to stay at home in public interest. If they were found in public places they will be picked up, arrested and sent to government quarantine."Please log in to get detailed story.

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News Network
July 25,2020

Bengaluru, July 25:  Karnataka reported 5,072 new COVID-19 positive cases and 72 deaths on Saturday, taking the total number of cases in the state to 90,942.

The total count includes 55,388 active cases and 1,796 deaths, the state health department said.

Meanwhile, a 100-year-old woman resident of Huvina Hadagali town in Bellary district here recovered from COVID-19 after testing positive for the virus earlier this month.

"Doctors treated me well. Along with regular food, I was eating an apple a day. The doctors are giving me tablets and injection, and I am healthy now. COVID-19 is like a common cold," said Hallamma while speaking to news agency.

The woman's son, daughter-in-law, and grandson had also tested positive for the virus, and the family was treated at their home.

India reported a spike of 48,916 coronavirus cases on Saturday, taking the total number of reported COVID-19 cases to 13,36,861, according to the Union Ministry of Health and Family Welfare.

The total count include 4,56,071 active cases, 8,49,431 cured/discharged/migrated. With 757 deaths in the last 24 hours, the cumulative toll reached 31,358.

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News Network
February 3,2020

Mumbai, Feb 3: Maharashtra Chief Minister Uddhav Thackeray has accused the BJP-led central government of siding with Karnataka in the Supreme Court over the Belgaum border dispute between Karnataka and Maharashtra.

"I am committed toward a unified Maharashtra... Whatever is happening in Belgaum is shocking. I will meet the committee looking after this matter. The central government is a guardian of all states and is expected to be unbiased towards all states, but it is shocking that Centre is taking sides with Karnataka in Supreme Court for last the five years. This is really shocking," Thackeray said in an interview with Shiv Sena mouthpiece Saamana.

On December 7 last year, Maharashtra Chief Minister Uddhav Thackeray had chaired a high-level meeting over the border dispute between the two states.

It was decided in the meeting that attempts will be made to get fast track hearing on the border issue in the Supreme Court.

Earlier on January 19, Shiv Sena leader Sanjay Raut had said that Belgaum border dispute between Karnataka and Maharashtra is a long-pending dispute but can be resolved if Union Home Minister wants.

"If Home Ministry can resolve Kashmir issue and abrogate Article 370 then I think this border issue can be resolved too if Amit Shah wants. The matter comes under the Home Ministry. It is a long-pending issue. He should pay attention to this too," he said while speaking to ANI in Belagavi.

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