1. Home
  2. GST done, govt to now take up income tax laws overhaul

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

About text formats
  • 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.
coastaldigest.com news network
May 15,2020

Mangaluru, May 15: Dakshina Kannada saw a record spike in the number of fresh COVID-19 cases today, which triggered panic among the people of the district, which is currently under orange zone.   

According to the mid-day bulletin of the Department of Health and Family Welfare, as many as 16 people from Dakshina Kannada tested positive for the covid-19. 

Among them 15 are the Gulf returnees who were brought by an Air India Express special flight from Dubai to Mangaluru International Airport on May 12. 

As many as 179 repatriates had landed at Mangaluru Airport. Among them 125 are quarantined in Dakshina Kannada, 49 in Udupi and five in Uttara Kannada districts.  

Meanwhile, a 68-year-old woman from Surathkal area in Mangaluru, who is suffering from Severe Acute Respiratory Infection (SARI) was also tested covid-19 positive.

This is the highest number of cases reported in a single day since first case registered in the district on March 22 when Dubai-bound youth from Bhatkal was tested positive. 

With this the total number of covid-19 cases in the district mounted to 50 including five deaths. Many of them have returned home after recovery.

3 members of a family test positive

According to Deputy Commissioner Sindhu B Rupesh, three members of a same family are among 15 gulf returnees who are tested positive.  They are a 45-year-old man, his 33-year-old wife and their 6-year-old child. 

Six among those who tested positive today are above 60 years of age, said the deputy commissioner. 
 

Comments

Add new comment

About text formats
  • 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
April 29,2020

Newsroom, Apr 29: Abdul Rahman Al Sudais, the imam of the Grand Mosque in Makkah has hinted that Muslims will be allowed to perform prayers again at the holiest mosque after a few days. 

Al Sudais, who is also the president of the General Presidency for the Affairs of the Two Holy Mosques, predicted this while answering a question from a reporter about the possibility of having worshippers gather again at the mosque.

He said that soon people will be allowed to return to the mosque for prayers and for circumambulation around the holy Kaaba.

The authorities care about people more than anything else, he said. "All Muslims should pray to Allah to help us through this pandemic. People must be careful and take necessary precautions to protect themselves and others," he added.

Comments

Add new comment

About text formats
  • 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 24,2020

Mangaluru, Jan 24: The Srushti Kala Vidyalaya will be conferring it's 'Srushti Kalabhushan Award' to ace Yakshagana Bhagvatha Patla Sathish Shetty.

The award ceremony will be held at RV Dental College and Hospital in JP Nagar, Bengaluru on February 2, as part of the decennial celebrations of the Vidyalaya.

Chayapathi Kanchibail, founder of the Vidyalaya, said, "The award is being given to Shetty for his services to promote the art of Yakshagana and for his welfare work through the Yakshadhruva Patla Foundation."

Comments

Add new comment

About text formats
  • 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.