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 5,2020

Bengaluru, May 5: A 62-year-old woman from Vijayapura succumbed to coronavirus infection on Tuesday, taking the COVID-19 death toll in Karnataka to 28, a health official said.

The state has registered eight more COVID-19 cases in the past 19 hours, increasing the count of such cases to 659, the official added.

"Positive case 640, 62-year-old female resident of Vijayapura died on Tuesday due to cardiac arrest," the health official said.

Admitted to a designated hospital''s ICU on Sunday, the woman was also suffering from Chronic Obstructive Pulmonary Disease (COPD), Bronchial Asthma (BA) and complained of breathlessness.

Among the eight fresh cases that emerged in the state, four were contacts of earlier cases, two with Influenza Like Illness (ILI) and one with travel history to Uttarakhand.

The health department is also tracing the contact history of a 30-year-old woman from Bengaluru Urban.

Incidentally, no new cases emerged from Davangere as 22 cases rocked the district on Monday.

Among the new cases, Bengaluru Urban contributed 3, followed by Bagalkote, 2, Ballari, Dakshina Kannada and Bhatkal in Uttara Kannada, 1 each.

Of the new cases, six are men and two women.

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News Network
January 18,2020

Bengaluru, Jan 18: Union Home Minister Amit Shah on Saturday called Prime Minister Narendra Modi as the "flag-bearer" of the Indian culture and tradition.

In his speech at an event organised by Vedanta Bharati here, Shah said, "Prime Minister Narendra Modi is touring across the globe as the flag bearer of the Indian culture and tradition." To buttress his point, the BJP National President said Modi took a holy dip in Ganga and attended Ganga Arati in Varanasi before taking oath as the Prime Minister.

It was for the first time that Modi sent red sander to Pashupatinath Temple in Nepal to perform special prayers on behalf of the government of India.

Shah also slammed the previous governments for their wrong interpretation of secularism, preventing them from honouring the best things of the country. "But after a long interval we have a Prime Minister who sends across the message that we have a lot to give to the world," Shah said.

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News Network
February 7,2020

Bengaluru, Feb 7: Karnataka's Directorate of Health and Family Welfare Services on Thursday issued guidelines for testing, isolation, hospital admission and discharge in view of the outbreak of Novel Coronavirus (nCoV) in Wuhan city of China, a virus that has infected nearly 20,000 globally and has killed more than 500 in China.

According to the guidelines, the sample of any passenger, whether symptomatic or asymptomatic, with a history of travel to or residence in Wuhan city of China in the last 14 days, has to be collected and tested.

And the sample of any health personnel, who develops symptoms of the virus after being associated with the infected persons, has to be collected.

The circular further says that the clinical sample of any suspect/probable case of nCoV will be sent to the laboratory confirmation and the case will be kept in isolation. If tested positive, the treatment has to be provided as per the existing guidelines.

The virus originated from Wuhan, a Chinese city, 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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