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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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coastaldigest.com news network
May 23,2020

Udupi, May 23: Issuing a stern warning to people against venturing out unncessarily 7:00 pm on May 23 and 7:00 am on May 25, Udupi deputy commissioner G Jagadeesh said that those who violate the lockdown norms will face punishment. 

“Lockdown should be observed strictly across Udupi district. If anyone is found roaming around, we will not speak, but our batons will”, he said in a press meet here today. 

He suggested the people to buy all necessary things for 36 hours of total lockdown before 7 p.m. today. 

Chief Minister has already clarified that a complete lockdown would be observed in the State on every Sunday. Only the medical shops, newspaper delivery, milk parlours will be permitted to function. Vehicular movement has also been restricted during this period, he said.

If marriages have been scheduled already on Sunday, they will be considered as a special case. However, prior permission is must for scheduled weddings, he said.

Udupi SP N Vishnuvardhan and ZP CEO Preethi Geholot CEO ZP were also present.

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News Network
May 5,2020

Dubai, May 5: Saudi Arabian prosecutors have ordered the arrest of a Saudi citizen for insulting an Asian expatriate and abusing him for not embracing Islam.

A video went viral online showing the expat, apparently with little knowledge of the Arabic language, being insulated by an Arabic-speaking man who does not appear in the clip, for having not embraced Islam and for not fasting.

A monitoring centre affiliated with the public prosecution examined the video the content of which “shows the citizen’s use of abusive words against the Asian resident on the pretext of inviting him to Islam,” the prosecution source said.

“The public prosecution closely follows up whatever infringes rights of citizens and residents including harm to their dignity and legal rights regardless of pretexts of such infringement,” the source added.

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March 21,2020

Bengaluru, Mar 21: All bars and pubs in Karnataka will remain closed from Saturday till March 31 as a preventive measure to tackle coronavirus spread, said state Chief Minister B S Yeddyurappa.

As per the government advisory, restaurants including cafes cannot serve food in-house and only takeaways will be allowed.

"All bars/pubs to remain closed from tomorrow till March 31 in Karnataka. In all city municipal corporations across the state, restaurants including cafes cannot serve food in-house, only takeaways will be allowed," said Yeddyurappa in a statement.

15 people have tested positive for COVID-19 in the state till now, said Karnataka Health Minister B Sriramulu on Friday.

The Minister told news agency that two COVID-19 patients, who are recovering, will soon be discharged from the hospital.

The total number of COVID-19 cases in India has now climbed up to 223, including 32 foreigners, the Union Health Ministry said on Friday. As many as 23 people have been cured of the infection in India.

The disease has claimed over 10,000 lives globally.

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