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
March 26,2020

Udupi, Mar 26: As many as 1000 expatriates, who have arrived from foreign countries and have been placed in home quarantine, were warned against violating the guidelines given to them and leaving their houses. 

Deputy Commissioner G Jagadeesha, addressing reporters here on Thursday, said that the district administration and health department officials have sent notices to surrounding houses regarding those quarantined and requested them to bring to the notice of relevant authorities if anyone was found violating the quarantine rules.

'If anyone is found violating the quarantine rules and roaming in public, a complaint can be registered by calling on 9480242600. Strict action will be taken against such violators,' said Mr Jagadeesha.

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News Network
January 19,2020

Bengaluru, Jan 19: Karnataka Chief Minister B S Yediyurappa on Sunday said he has had detailed discussions with BJP National President Amit Shah on the cabinet expansion and that the exercise would be carried out after his return from Davos.

The Chief Minister told reporters before leaving for Davos to attend the World Economic Forum meet that he hoped his visit would help bring in large-scale investments to the state. "On cabinet expansion, I had detailed discussions for about half-an-hour (with Amit Shah on Saturday), got a good response... one or two days after I come from Davos, I will expand the cabinet. There are no stumbling blocks for it", Yediyurappa said.

He also rubbished media reports about a lack of clarity on the Ministry expansion. "It is not right... there are no issues", he said.

Asked whether he would travel to Delhi to meet Shah after returning from Davos, Yediyurappa merely said, "It is natural for me to meet Amit Shah." According to the Chief Minister's tour programme, he will be back in the city on January 24.

Yediyurappa, along with Union ministers Piyush Goyal and Mansukh Mandaviya, as well as Chief Ministers Amarinder Singh of Punjab and Kamal Nath of Madhya Pradesh, are among those expected to join over 100 Indian CEOs at Davos in the coming days for the WEF's 50th annual meeting.

Stating that he was leaving on a four day trip for Davos with an aim to bring investments to the state, he said interactions have been fixed with 38 industrialists and investors. "There is a large possibility of investments coming to the state from meetings during the WEF meet. I will assure industrialists and investors that the government will give all necessary facilities within our limits and also clear all the doubts that they have," the Chief Minister said. He said employment opportunities in Karnataka would increase due to all these efforts.

Claiming that the economic situation in Karnataka was stable despite the global economic slowdown, he said the state was also organising the Global Investors Meet in November to attract industries and create employment opportunities.

The delegation led by Yediyurappa includes Industries Minister Jagadish Shettar, Chief Secretary T M Vijaya Bhaskar and top officials of the state government. The Chief Minister, who was anxiously waiting for the high command's nod to expand his ministry amid intense lobbying by the aspirants, was keen on getting approval for it from Shah, but was asked to visit Delhi after returning from Davos, party sources said.

They also said that with J P Nadda all set to take over as BJP National President, he would have final discussions with Yediyurappa on the Ministry expansion exercise. S R Vishwanath, Political Secretary to the Chief Minister too said that Yediyurappa would go to Delhi after his return from Davos and immediately expand the Ministry.

He said the Chief Minister has been asked to hold discussions with Nadda, who is currently BJPs National Working President and finalise things.

As the Chief Minister has already made it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the bypolls on BJP tickets will be made ministers, lobbying has been on in the party for the remaining ministerial berths. Currently, there are 18 Ministers, including the Chief Minister in the cabinet that has a sanctioned strength of 34.

However, with some reports that the high command may not be keen on making all the 11 re-elected legislators, whom Yediyurappa has given assurance, as Ministers, it remains to be seen how things turn out. Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make a place for old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with the allocation of key portfolios. Also, disqualified legislators who lost on a BJP ticket during the bypolls like A H Vishwanath (Hunsur) openly expressing their ministerial aspirations has added to the Chief Minister's worry.

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coastaldigest.com news network
April 23,2020

Newsroom, Apr 23: During the ongoing lockdown in India so as to break the chain of Coronavirus infection, Islamic scholars across India are appealing Muslims to stay indoors and observe fasting with steadfastedness in the blessed month of Ramadan.

They have urged the people to offer taraveeh and other Namaz at homes, do iftar at home and enjoy with one's family only.

During Ramadan, social distancing would be of utmost importance in order to contain the disease, they urged. 

Shahi imams of Jama Masjid and Fatehpuri Masjid in the city have also appealed to Muslims to offer namaz during the holy month of Ramadan at home and follow lockdown guidelines to prevent the spread of coronavirus.

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