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
May 24,2020

Udupi, May 24: As many as 23 people tested positive for coronavirus in Udupi in past 24 hours, according to the latest bulletin released by the health and family welfare department.

While 18 were tested positive till noon, five more tested postive by evening.

With this the total number of covid-19 cases in the district rose to 76 including a death. Three have recovered. There 72 active cases.

Among 23 fresh cases, many had reportedly come from Maharashtra. A 44-year-old woman had returned from UAE. A 26-year-old man returned from Telangana.

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News Network
April 14,2020

Bengaluru, Apr 14: Former Karnataka Chief Minister Siddaramaiah on Tuesday demanded that BS Yediyurappa-led government should cut down on 'unnecessary' expenditures to mobilise funds to fight against coronavirus.

"Yediyurappa government needs to cut down on unwanted expenses which government is spending on several things in order to save the taxpayers money to fight against coronavirus," said Siddaramaiah here in a press conference.

He alleged that the ruling state government is indulged in corruption due to which the government is running bankrupt, adding that instead of mobilising funds, Yediyurappa government is only concentrating on auction of Bangalore Development Authority (BDA) sites.
Siddaramaiah claimed that the "BDA was already in loss".

"The present government does not have money due to its involvement in corruption. The Karnataka government must concentrate on cutting expenses and there is no need to waste money on unwanted things including vehicles for board and corporations chiefs," said the Congress Legislature Party (CLP) leader.

"Yediyurappa government has decided to auction more than 12,000 BDA sites to get benefit of Rs 15,000 crore, rather than fullfiling requirements of people of the state at the time of coronavirus crisis," he said.

In Karnataka, 247 people have tested positive for coronavirus, including 59 cured and discharged and 6 deaths, according to the Union Health Ministry.

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News Network
April 16,2020

Bengaluru, Apr 16: In view of the raging coronavirus pandemic, no public iftaar or sehri will be organized during Ramazan, the month of fasting for the Muslims, the Karnataka Minority Welfare Department announced here on Thursday.

"No public shall be allowed to perform five-time congregational prayers in mosques, across Karnataka during Ramazan in view of COVID-19 pandemic. No public address system to be used by the staff of mosques for offering namaz,'' the department said.

During the holy month of Ramazan, it is a tradition to organise iftaar feasts for large gatherings by different people, especially by politicians, celebrities and the common wealthy people for their friends and family.

Ramazan is to commence from the 24th or 25th of April this year, depending on the sighting of the moon.

The order stated that Azaan (the call for prayer) shall be given at low decibel and namaaz including Friday namaaz, will be performed by the imams, moazzins and the masjid staff only.
No public should be allowed to offer namaaz in the mosques as per government directions, it said.

The state government also cited an order by the Ministry of Home Affairs dated April 15, which stated that "All religious places/places of worship shall be closed for public. Religious congregations are strictly prohibited due to the outbreak of COVID-19 across the country."
Thirty-four more COVID-19 cases, including 17 cases from Belagavi, have been reported from Karnataka. The total number of coronavirus cases in the state now stands at 313.

The total number of cases in India has now climbed to 12,380. Out of these cases, 1489 have been cured/discharged/migrated while 414 deaths have been reported so far, as per the latest data provided by the Ministry of Health and Family Welfare.

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