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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.

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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
June 8,2020

Bengaluru, Jun 8: Normal life is slowly returning to normal across Karnataka with the state government further easing the restrictions by throwing open places of worship, hotels, malls for the public.

Despite these places being opened after a gap of more than two months, the places wore a deserted look as the people are and cautious and not ready to take of risk of venturing out amid the ongoing Corona threat.

"Business is not as heavy as expected though it was allowed after a gap of almost three months. You can see for yourself the crowd, it is not what it should have been in a commercial area like this prior to the imposition of lockdown. However, hope it will improve", a Cloth merchant B Ramesh told UNI when asked for his reaction.

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News Network
March 14,2020

Bengaluru, Mar 14: The Rashtriya Swayamsevak Sangh (RSS) on Saturday suspended its proposed Akil Bharatiya Pratinidhi Sabha (ABPS) meeting scheduled to be held in the outskirts of the city, in the wake of the outbreak of Coronavirus in the state.

'In view of the seriousness of the pandemic COVID-19 and in the light of instructions and advisories thereof issues by the Union and the state governments, the Akil Bharatiya Pratinidhi Sabha meeting scheduled in Bengaluru has been suspended', Sarakaryavah Suresh Joshi tweeted.

All Swayamsevaks should cooperate with the administrations to create awareness among the public and to face this successfully, he said.

It may be recalled that Karnataka State Government had ordered shut down of pubs, malls, theatres, and ban mass gatherings over the Coronavirus scare, on Friday.

Comments

Kannadiga
 - 
Saturday, 14 Mar 2020

Rss is worst than corona virus. Once it ban then definitely our Secular nation India will stand on top of the world. No one will touch even the rss God father israel also never try to poach their nose.

 

Ban this desh drohi element for ever.

 

Jai Hind! 

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News Network
February 26,2020

Mangaluru, Feb 26: Mangaluru Smart City Limited (MSCL) Managing Director Mohammed Nazir on Wednesday said that 13 Schools in eight wards, here, will be upgraded under the Area Based Development (ABD) of the Smart City Mission (SCM).

Mr. Nazir, in a statement, said that the Schools selected include Government Higher Primary School Car Street, Bastigarden, Neereshwalya, Hoigebazar Lower Primary School, Government Practicing HS, Balmatta Primary School, Balmatta Secondary School, Bunder Higher Primary School (Urdu), Bunder Government High School (Urdu) and Bolara East Government Primary School.

These Smart Schools will have IT-enabled interactive teaching and learning tools, computer labs and open reading plazas.

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