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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
July 5,2020

Bengaluru, Jul 5: Karnataka Chief Minister BS Yediyurappa has asked officials to ensure that all necessary arrangements for COVID-19 patients must be carried out efficiently and transparently, Medical Education Minister Dr K Sudhakar said.

"Karnataka is in a better position due to the efforts and hard work of ministers, doctors, officials and all staff. The cases have increased in Bengaluru and some other districts in last few days due to various reasons. We all have to work hard and contain the spread of virus," Dr Sudhakar told media on Saturday.

"Responsibilities related to policy formulation, preparation of guidelines, communication to media and management of war room have been assigned to me. Deputy Chief Minister Ashwath Narayan has been given the responsibility of managing COVID-19 care centres and Revenue Minister R Ashoka and Chief Minister's political secretary Vishvanath have been given the responsibility of managing private hospitals. The Chief Minister has instructed all of us to work in synergy," he said.

Dr Sudhakar said the matter of imposing lockdown in the state again was discussed in the task force meeting. "I and Deputy Chief Minister suggested that lockdown is not necessary at this stage. The Chief Minister will take a decision on this matter," he added.

Home Minister Basavar Bommai, Health Minister B Sriramulu, Revenue Minister R Ashoka and senior officials were present in the task force meeting.

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News Network
July 2,2020

Mangaluru, Jul 2:  A seven-day old baby boy was tested positive for Covid-19, Health Department officials said on Thursday.

The infant is currently undergoing treatment at a designated Covid Hospital here. The baby was born at a private hospital in the city last week. 

According to the officials, it was not known as to how the newborn contracted the infection.

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News Network
April 28,2020

Bengaluru, Apr 28:  Karnataka Chief Minister B S Yediyurappa today launched a Helpline service for Kannadigas residing outside Karnataka.

On April 24, Dakshina Kannada district in-charge Minister Kota Srinivas Poojary in a letter to the Chief Minister requested a helpline for stranded Kannadigas in Mumbai, other States and other countries.

The helpline will help resolve the problem of stranded Kannadigas across the country. After a request is made, local authorities of the caller will be contacted to provide the required help. The helpline will be operated from Bengaluru and staffed with 50 employees in three shifts.

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