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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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News Network
May 2,2020

Mangaluru, May 2:  Karnataka Pradesh Congress Committee Spokesperson P V Mohan on Saturday urged the district administration to find the source of coronavirus in Dakshina Kannada (DK) district.

He asked the district administration to ascertain from where a woman from Bantwal's Kasba contracted virus on April 19.

''We do not want to convert Dakshina Kannada into Nanjangud,'' Mr Mohan said referring to the mysterious case of Patient 52 from Nanjangud who has been identified as the main source of virus to the rest of the positive individuals in Nanjangud.

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News Network
March 13,2020

Bengaluru, Mar 13: Several ministers staying at the Bengaluru resort had been emotionally pressurised to leave the Congress party, said Congress leader Jitu Patwari on Thursday after he was rescued by party leader DK Shivakumar from getting arrested due to the scuffle that had broken out at Embassy Boulevard here.

"We had received information that one of the MLAs, Manoj Chaudhary, staying at the Boulevard wanted his father to bring him back home," Patwari told reporters.

He said, "We had accompanied Manoj's father to the resort but the moment we entered the restaurant at the resort, some miscreants took away Manoj to some other unknown place," Patwari told reporters.

"Meanwhile, we (Lakhan Singh and Jitu Patwari) were manhandled and taken to the police station," he added.

Patwari said that the police had started the process of arresting them but Shivakumar came to their rescue and stopped their arrest.

He further said, "The police manhandled us even though we tried to talk to them in a very calm manner."

"If the MLAs giving resignation was their decision then why is the BJP not allowing them to contact their families," the MP said.

He further said that Jyotiraditya Scindia would soon become a minister but "why are the other ministers being made scapegoats."

Earlier in the day, a Congress leader in Madhya Pradesh had said that if action on the assaulters of its two leaders is not taken then the matter will be taken to the court.

Comments

wellwisher
 - 
Friday, 13 Mar 2020

No doubt,  desh drohi criminal rss goons might threaten to kill their beloveds aor they may be kdnapped to go against present ruling party. Public must stand up and oppose such authority and rss police group.

 

Indians never  lose faith on constitution but unite and kick out the person who misusing the costitituion. For expample  recent transfer of Delhi High Court Judge by rss backing shah sponsored groups .

 

Long Live India

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News Network
April 6,2020

Kasaragod, Apr 6: Even as the number of positive cases of Novel Coronovirus is on increase in this district, the ten-member medical team from Thiruvananthapuram on Monday will inspect and review modalities to convert the proposed Kasaragod medical college into a COVID-19 hospital.

Given the constraints being faced by the district hospital in Kanhangad near here, the 200-beded Kasaragod medical college hospital in Ukkinada near here would be equipped to cater to the Covid-19 patients on isolation.

The ten member medical experts who reached here late on Sunday, are on a special mission to immediately equip the hospital as to convert it as a Covid-19 centre.

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