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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 14,2020

Udupi, Jul 14: Kundapura police in Karnataka have booked a case against a businessman who had violated home quarantine rules as many as 163 times.

Accused Sahab Singh had arrived at his rented house at Koteshwara from Mumbai on June 29. He was asked to remain quarantined in his house till July 13. 

However, he was found loitering and visiting hotels in Udupi. Officials tracked his movement through mobile GPS. He breached the quarantine period 163 times. 

Following the violation, Flying Squad officer N G Bhat filed a complaint against Singh in Kundapura Police Station under IPC Sections 269, and 270.

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Agencies
February 18,2020

New Delhi, Feb 18: The Rashtriya Swayamsevak Sangh is holding a daylong meeting with 70 columnists from across India on Tuesday in an effort to clear misconceptions about the organisation, sources said.

RSS chief Bhagwat, who last year met representatives of international media organisations posted in India, is expected to deliver a keynote address that will be followed by a free-flowing conversation, they said.

The 70 columnists attending Tuesday's meeting write in different languages.

The meeting, in Chhattarpur in New Delhi, is a closed-door meeting and the proceedings are "strictly confidential", the sources said

Comments

sharief
 - 
Wednesday, 19 Feb 2020

You do whatever circus,  false will never be truth.

 

First of all know what is your VEDA and set as example by following.

 

No need to do any false circus.

 

 

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News Network
April 17,2020

Bengaluru, Apr 17: The Ministry of Information and Broadcasting on Thursday served a show cause notice to a Kannada news channel for broadcasting a programme in which it purportedly said that the Centre would 'air drop money' to the poor, owing to the COVID-19 lockdown.

The notice said that the channel was "spreading false information, creating panic and social unrest.

" The channel had allegedly aired a show titled, "Helicopter Money" on Wednesday which claimed that the Centre would drop money from helicopters during the lockdown period.

A Twitter user took a serious note of it and complained to the Union Minister for Information and Broadcasting Prakash Javadekar.

The fact check team of the Press Information Bureau, under the Ministry of Information and Broadcasting, refuted the claim.

In its notice to the channel, PIB said, "You are hereby directed to show cause why your channel should not be taken out of air immediately. You are instructed to send your reply in this regard within 10 days of receipt of this notice."

Reacting to the notice, the management of the news channels said, "A programme which has been seen in bits and pieces and those who have not even seen the programme appears to have complained. Notice will be replied accordingly."

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