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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News Network
January 14,2020

Jan 14: A day after it moved the Supreme Court against the controversial Citizenship Amendment Act (CAA), the Kerala government on Tuesday said it would continue its fight against the legislation as it "destroys" the secularism and democracy in the country.

The CPI(M)-led government had on Monday moved the apex court challenging the CAA and sought to declare it as 'ultra vires' of the Constitution. State Industries Minister E P Jayarajan told reporters here that the state has moved the apex court and will explore all options to fight the Act.

"The state government will to go to any extent and continue its fight against CAA. This Act destroys democracy in the country. This will only help in implementing the RSS agenda, to drive the nation through a fascist regime, and destroying the secularism and democracy in the country. The RSS and the Sangh Parivar cannot implement this law just by using muscle power," Jayarajan said.

Tourism Minister Kadakampally Surendran tweeted that the state became the first in the country to approach the top court against the Act. "Kerala government files lawsuit against the unconstitutional CAA. Kerala becomes the first state in the country to go to the Supreme Court against CAA.

"Kerala leads the way," he said in the tweet. In a suit filed in the apex court, the Kerala government has sought to declare that the CAA 2019 was "violative" of Article 14 (Equality before law), 21 (Protection of life and personal liberty) and 25 (Freedom of conscience and free profession, practice, and propagation of religion) of the Constitution.

It also claimed that the law was violative of the basic principle of secularism enshrined in it. The state Assembly had on December 31, 2019, passed a unanimous resolution against the CAA and became the first state to do it.

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News Network
March 27,2020

Bengaluru, Mar 27: Oncologist Dr. Vishal Rao, HCG Hospital Bengaluru on Friday said that human body cells release interferon chemical to kill viruses but it cannot be released by cells in the case of COVID-19 cases, leading to weak immune system. However, a therapy of specific concoction could be useful in treating COVID-19 patients.

"We got hold of some preprint suggesting that interferon is effective in COVID19," said Rao.

Speaking to news agency, he continued saying "When we withdraw blood for regular check-ups, we get buffy coat which can be used to take out cells and form interferon. These two chemicals and some other cytokines, in a specific concoction, could be potentially very useful in treating COVID-19 patients."

Rao said that they have built a concoction of cytokines which can be injected to reactivate immune system in COVID-19 patients.

"We are in a very initial stage and hope to be ready with its first set by this weekend. We have applied to the governement for an expedited review. We have also presented this before the state government" said Rao.

"We have a team of infection specialist, ICU team and other...all of us have worked together to build something that we believe. We want to serve the society at this hour of need," he added.

Dr Rao clarified that this is not a vaccine and this particular interferon therapy does not help to prevent the infection of COVID-19. However, this is focused and targeted towards COVID-19 positive patients or those who have just incubated the virus.

"We believe that in early stages as well as the patients who have just incubated, this particular therapy of interferon gama and other concoction of cytokines could be an effective method. In the late stages we are looking at specific dosage of the cells which are our own body cells which can actually be affective and could also be of use for the ventilator patients," he added.

Meanwhile, Dr Gururaj, Immunologist and Scientist told ANI that they are trying to cover two aspects, one is the early stage patients where they are trying to improve their immune systems.

"As Dr Vishal said, we are trying to see whether we can use the cytokines from our own immune cells which is a natural process but it is hampered in infected patients," said Dr Gururaj.

"In the last phase we are using cells which are used from the bone marrow of the patient or donors. We can use those cells to reduce the inflation and so called cytokines release syndrome which is basically the inflammatory response of the body," he added.

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News Network
April 27,2020

Madikeri, Apr 27: Four labourers, who were travelling to Kerala via Makutta on foot, were stopped by Karnataka Forest Department officials and handed over to police.

Police said on Monday that the labourers identified as Anish, Radhakrishna, Shrinil and Prabhakar, who were working in the Coffee plantations in Chembellur and Ontiyangadi. As the roads to Kerala were sealed following lockdown, they were held up in the district.

The forest guards, who spotted them walking through the forest area, brought them back to the town as per the directions of the higher officials last evening. DCF Shivashankar, ACF Konerira Roshni and Ranger Arun Kumar were present.

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