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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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coastaldigest.com news network
July 30,2020

Mandya, July 30: BJP state president Nalin Kumar Kateel on Wednesday said Chief Minister B S Yediyurappa has done a commendable job in tackling the Covid-19 situation and floods and that the question of changing the leadership does not arise.

Karnataka on Wednesday reported 5,503 new cases of Covid-19 and 92 related fatalities, taking the total number of infections to 1,12,504 and the death toll to 2,147.

Speaking to reporters here, Kateel said, "Deputy Chief Minister Laxman Savadi has gone to Delhi to discuss the projects sanctioned to state with the central minister. There is no need to read too much into it."

Replying to a query on graft charges against the BSY government by the Congress, Kateel said, "Congress national president, state unit president are out on bail in graft cases . Why did a Congress leader who calls himself a bande (rock) has approached court seeking stay on CBI probe? Before making any allegations against the government, they should think about 'irregularities' in Indira Canteen and housing schemes," he charged.

Instead of instilling confidence and hope among the people in these testing times, the Congress is unnecessarily creating fear with petty politics, he told reporters in Shravanabelagola, Hassan district.

"The Yediyurappa-led BJP government is working day and night to tackle the Covid-19. Similarly, several non-governmental organisations have joined hands with the government in the fight against the virus. But, the Congress is only creating confusion by issuing baseless statements," Kateel said.

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News Network
March 1,2020

Mangaluru, Mar 1: Karnataka Minister for Major and Medium Industries Jagadish Shettar said that the flight service between Mangaluru and Hubballi will begin on March 29 under UDAN scheme.

Speaking to reporters on the sideline of the meeting of Industries Commerce of Magaluru, here on Saturday evening, he said while the city of Ports is the second busiest international airport after Bengaluru in Karnataka, other places, namely Hubballi, Belagavi, Kalaburagi and Bidar, have come on the air map with the UDAN scheme.

Stating that UDAN launched by Prime Minister Narendra Modi was what the Golden Quadrilateral highway project of former Prime Minister A B Vajpayee had envisaged, Mr. Shettar noted that more flights are operating to and from Mangaluru now. This has paved the way for Industrialisation of the important city on the Bombay-Karnataka region, he added.

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coastaldigest.com web desk
June 21,2020

Bengaluru, June 21: An assistant sub-inspector of police who was undergoing treatment for COVID-19 infection in city-based Victoria hospital passed away on the intervening night of Saturday and Sunday as he did not respond to the treatment for coronavirus.

The 59-year-old ASI was attached to the Wilson Garden traffic police station in Bengaluru. He tested positive for coronavirus on June 18 and was rushed to the COVID ward in Victoria hospital on June 19. He had fever for the last four days. His wife and two children have been quarantined. According to the police, the station has not yet been sealed down and no policemen have been quarantined.

The Wilson Garden ASI is the third Bengaluru police personnel to die of COVID-19 in the last one week. Earlier, an ASI from the VV Puram traffic police station had died undergoing treatment. On Saturday morning, a head constable from the Kalasipalya police station who was admitted at Victoria hospital passed away. The series of deaths in the police department has created fear among other policemen across the city.

One the other hand, dozens of policemen were tested positive in different parts of Karnataka today including 21 from two police stations of Bengaluru. 

Around 15 policemen from the Kalasipalya police station and five policemen from the Ashok Nagar traffic police station tested positive for coronavirus on Sunday.

In Kalasipalya, three ASIs, head constables and police constables have tested positive. In Ashok Nagar traffic police station, a probationary sub-inspector, an ASI, two police constables and a lady constable tested positive for the virus.

One more police constable working in Bandepalya police station also tested positive. Seven policemen who were in his primary contacts have been quarantined. BBMP officials have begun the process of fumigating the station premises and its surroundings.

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