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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 10,2020

Bengaluru, Jan 10: Barely 24 hours after the standoff between BJP workers and students of Jyoti Nivas College (JNC) in Bengaluru over CAA became breaking news, it took political hues with the saffron party and the Congress locking horns over the issue.

Taking the battle to the anti-CAA camp on Thursday, the BJP aggressively defended its party workers, who on Wednesday erected a pro-CAA banner on the college compound wall and allegedly forced students to sign on it as a mark of support.

With one of the workers who had locked horns with JNC students by his side, deputy chief minister CN Ashwath Narayan, at his official residence, questioned students’ right to protest party cadre erecting a pro-CAA banner on their college compound wall.

“How can you tell people not to create awareness about a law that has been passed in this country? Who gave students the right to question political workers? If there was anything wrong, let them report to the police,” retorted the minister, who also holds the higher education department portfolio.

On the other hand, the Congress, cashing in on simmering anger over the assault on JNU students in Delhi, used the JNC standoff to project the ruling party as prime culprits in stifling the voice of students. BTM Layout MLA and seasoned politician R Ramalinga Reddy even warned the BJP against “allowing JNC to become another JNU”.

Reddy met with the JNC administration and extended his support against any “threats” to students. It is being alleged that Reddy was the first to “leak” the video of Wednesday’s row to the media. The college falls in his assembly constituency.

Taking a cue from his colleague’s stand, former CM and opposition leader Siddaramaiah also leaned into the matter and sent a strong message “backing” students in the standoff. “BJP goons are threatening students of Jyotinivas College to support CAA. MrYediyurappa, I am strictly warning you to control hooligans from your party. Don't subvert knowledge & institutions for your selfish motives. We won't let Ktaka to be victim of your Hitler rule!” said Siddaramaiah in a tweet.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 19,2020

Karwar, Mar 19: Four drug peddlers were arrested on Thursday and 2.68 Kg of brown sugar worth Rs 2 Crore was seized from them while they were smuggling the banned drug by road from Yellapura to Ankola.

Police identified the arrested persons as Narayan (35), Chandrahas Gunaga (29), Veerabhadra Hegade (43) and Praveen Bhat (30).

Police have registered a case and investigations are ongoing.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 28,2020

Bengaluru, May 28: As many as 115 new coronavirus cases were reported in Karnataka on Thursday taking the infection count to 2,533, Karnataka Minister S Suresh said.

The total coronavirus cases include 834 discharges, 1,650 active cases, 47 deaths so far due to the disease and two deaths due non-COVID causes, Suresh Kumar, who is minister for primary and secondary education, said during the daily COVID-19 briefing.

According to him, 29 cases were reported in Udupi on Thursday, followed by 24 in Dakshina Kannada district, 13 in Hassan, 12 in Bidar, nine in Bengaluru Urban, seven in Yadagiri, six in Chitradurga, five in Kalaburagi, four in Haveri, three in Chikkamagaluru, two in Vijayapura and one in Raichur.

The minister said among the new cases, 95 are inter-state passengers and two international passengers.

According to the health department, 84 infected people have returned from Maharashtra and eight from Tamil Nadu.

Among those discharged today, 13 are in Davangere, 12 in Dakshina Kannada, nine each in Yadagiri and Vijayapura, five in Gadag, three in Belagavi, one each in Mysuru and Bagalkote.

Two are severe acute respiratory infection cases.

There were, however, no coronavirus related deaths in the state today, the minister said.

Kumar said the government has issued another circular making changes in the quarantine rules.

"A person who has completed seven days of institutional quarantine and is asymptomatic can be permitted for home quarantine without a COVID test, subject to undergoing medical check-up," the minister said.

According to the circular, all elderly people of above 60 years of age and those with comorbidities such as diabetes, hypertension, asthma, heart ailment and renal diseases, are required to be clinically evaluated diligently prior to shifting them to home quarantine.

Such people will be under mandatory home quarantine for seven days, the circular read.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.