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.
News Network
July 22,2020

Bengaluru,  Jul 22: Karnataka Congress president DK Shivakumar on Tuesday said that the state government should give details of the amount it spent on migrants and labourers during the coronavirus crisis if it is transparent.

"The image of Karnataka has come to a very rotten position. We all know that Karnataka has failed in sorting out the problem. Let them (the state government) tell what has been the amount spent on the labour, migrants, food kits on the health department. We want an account (of the expenditure) if they are so transparent," Shivakumar said.

He said that the state government should have approached the hospitals for treating COVID-19 patients and if any hospital refused, a message should have been given that the government would take it over.

He also accused the state government of corruption.

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
May 7,2020

Mangaluru, May 7: Thousands of migrant workers from Uttar Pradesh and Bihar, led by Congress leader Mithun Rai, staged a protest here on Wednesday demanding that they be allowed to return to their native places.

The workers started a protest demonstration opposite Mangaluru City Corporation office in the city. Police dispersed the crowd for violating social distancing norms.

The workers said they have nowhere to go and nothing to eat. Therefore, they are demanding to be sent back to their states. They however, had crowded together without following the social distance norm. 

In the wake of protest, prohibitory orders under section 144(3) were imposed in Dakshina Kannada district between 7pm and 7 am till May 17 to check the spread of Covid-19.

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.
coastaldigest.com news network
June 18,2020

Udupi, Jun 18: Two youths lost their lives in a ghastly road mishap involving a vegetable-laden mini truck near Santhekatte in Udupi today. 

The deceased have been identified as Dinesh (35) and Manjunath (21), both hailed from Balkur village in Kundapur taluk.

The accident took place at around 7 a.m. when the mini truck was carrying vegetables from Kundapur to Udupi. 

According to sources, Dinesh, who was driving the vehicle, lost control and rammed into a pole next to the national highway. 

Both Dinesh and his assistant Manjunath suffered head injuries in the accident. They were rushed to Ajjarkad district hospital where they were declared dead on arrival.

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.