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Task force on Income Tax will read law chapter by chapter: Adhia

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Hasmukh Adhia
Hasmukh Adhia File Photo IANS

New Delhi, Nov 23: The Income Tax Act, 1961 will be read “chapter by chapter” by the new task force constituted for drafting a new direct tax legislation, Finance Secretary Hasmukh Adhia said on Thursday.

In an interaction with select Editors, he said while some of the good provisions of the direct taxes code prepared by the previous government have already been incorporated in the income tax law, a need has been felt for complete revamping of the IT act.

The Task force will be reading “chapter by chapter” the IT act and recommend changes. “With moderate tax rates, we will not need so many provisions relating to exemptions under chapter 10 and the like,” he said.

After changes, the law will continue to be called the Income Tax Act and there was no proposal to name it Direct Taxes Code.

On Thursday, while announcing constitution of the task force of which Arbind Modi, Member (Legislation), CBDT, will be the Convenor, the government said during the Rajaswa Gyan Sangam held on September 1 and 2, Prime Minister Narendra Modi had observed that the Income-tax Act drafted more than 50 years ago, needs to be re-drafted.

Accordingly, in order to review the Act and to draft a new Direct Tax Law in consonance with economic needs of the country, the Government constituted the Task Force.

Apart from Arbind Modi, it will have Girish Ahuja, practicing Chartered Accountant and non-official Director, State Bank of India, Rajiv Memani, Chairman and Regional Managing Partner of E&Y, Mukesh Patel, Practicing Tax Advocate, Ahmedabad, Mansi Kedia, Consultant, ICRIER and G.C. Srivastava, retired official of the IRS 1971 Batch and Advocate as its members.

Dr. Arvind Subramanian, Chief Economic Adviser (CEA), will be a permanent Special Invitee in the Task Force.

The Terms of Reference of the Task Force is to draft an appropriate Direct Tax Legislation keeping in view the direct tax system prevalent in various countries,the international best practices, the economic needs of the country and any other matter connected thereto.

IANS

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Delhi HC pulls up Centre for not framing rules on e-cigarette

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New Delhi, Aug 21: The Delhi High Court on Tuesday pulled up the Central government for its failure to frame any policy on e-cigarette.

A bench of Chief Justice Rajendra Menon and Justice V. Kameswar Rao pulled up the Central government for its failure to take any decision on regulatory measures for e-cigarettes till date. It noted that some states have already taken steps to prohibit it.

The bench said that this is an important issue particularly for educational institutions.

The court was hearing a plea seeking a ban on or regulation of the sale and use of e-cigarettes. It listed the matter for further hearing on September 7.

The public interest litigation petition filed by anti-tobacco activist Seema Sehgal, through advocate Bhuvanesh Sehgal, said that though there are no specific guidelines to deal with emerging threats such as e-cigarettes several state governments and Union Territories have taken steps to prohibit it.

Punjab, Haryana and Chandigarh have declared e-cigarettes as an unapproved drug under the Drug and Cosmetic Act of 1954 and have begun prosecuting the vendors.

IANS

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Tejashwi Yadav attacks Nitish, says Bihar turned into ‘monster raj’

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New Delhi, Aug 21: Reports of a woman being paraded naked in a Bihar town prompted Rashtriya Janata Dal leader Tejashwi Yadav on Tuesday to allege the state has been transformed into a ‘jungle and monster raj’.

A mob attacked, stripped and paraded a woman naked in a locality in Bhojpur district on Monday suspecting her for murdering a man. A video of the incident went viral on social media. The mob also torched a few shops.

Read More: Woman stripped, beaten by mob on murder suspicion in Bihar

The clip also showed people making video clips of the incident instead of helping the victim.

Yadav tweeted: “What is happening in my Bihar? Today a woman has been beaten up and paraded naked on the road. You (referring to Chief Minister Nitish Kumar and his deputy Sushil Modi) have transformed Bihar into jungle and monster raj.”

Yadav said he was numb to see the “heart-wrenching video clip” of the women.

Presently, the woman is under police custody and undergoing medical examinations.

However, she denied her involvement in the murder.

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Mandsaur Rape Case: Two accused gets death sentence

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Law

Bhopal, Aug 22: The Madhya Pradesh special court on Tuesday pronounced death sentence to the two accused Irfan and Asif for raping a seven-year-old girl in Mandsaur.

Second Additional District and Sessions judge Nisha Gupta sentenced death to the accused.

The minor was kidnapped and raped before being abandoned at a secluded place while she was waiting for her father after school on June 26.

The victim was found by a neighbour walking dazed on the next morning.

The brutal rape triggered a countrywide outrage and protest.

Thousands of people took out a march and also submitted a memorandum to the Mandsaur administration, demanding death sentence for the accused.

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