Parliament Scraps 58 laws and amends Income Tax & IIM Acts

Introduction
•Parliament in passed The Repealing and Amending Bill, 2019 to repeal 58 old central laws in 2nd August 2019
•This has been done to achieve maximum governance.
•This Bill is one of those periodic measures by which enactments have ceased to be in force or have become obsolete are repealed or by which the formal defects detected in enactments are corrected.
 
Aim of the Bill
•Law Minister Ravi Shankar Prasad said after the BJP-led government came to power, it decided to get rid of redundant and absolute laws.
•A committee has identified 1824 old laws.
•So far, 1,428 old and archaic central Acts have been repealed and about 75 laws that the Centre drafted for states in view of the President rule, have also been repealed.
 
Some Important Acts Repealed
•1850 The Public Accountants' Defaults Act, 1850.
•1881 The Municipal Taxation Act, 1881.
•1892 The Government Management of Private Estates Act, 1892.
•1956   The Terminal Tax on Railway Passengers Act, 1956.
•1958 The Himachal Pradesh Legislative Assembly (Constitution and Proceedings) Validation Act, 1958.
•1960   The Cotton Transport (Amendment) Act, 1960.
•1963   The Hindi Sahitya Sammelan (Amendment) Act, 1963
 
Amendment of certain laws
•The Bill makes minor amendments to two Acts which relate to substitution of certain words. The two Acts are:
     (i) the Income Tax Act, 1961,
     (ii) the India Institutes of Management Act, 2017.
 
The Income-tax Act, 1961
•The Income-tax Act, 1961 is the charging Statute of Income Tax in India.
•It provides for levy, administration, collection and recovery of Income Tax.
•Central Board of Direct Taxes is the apex body to implement the Income Tax Act in India.
 
The Indian Institute of Management Act, 2017
•This Act declared the Indian Institutes of Management as institutions of national importance and enabled them to offer degrees and further make substantial changes in their administration
 
Board of governors
•The Act provides for the creation of a board of governors, which would act as the principal executive body for each IIM.
•Board of Governors would appoint one director for each IIM, whose pay is ₹225,000 in seventh pay commission but who is entitled to a variable pay.
•The board of governors would have a maximum of nineteen members including one chairperson of the board; a nominee each from central and state governments; two members of the faculty; four eminent personalities from fields including education and industry, one of whom has to be a woman, and; the director of the institute.
 
Academic council
•There shall be an academic council for each IIM, which is principle academic body under the act and which would decide the:
     (a) academic content;
     (b) criteria and processes for admissions to course; and
     (c) guidelines for conduct of examinations.
 
Other provisions
•The Act provides for the creation of a coordination forum, which would discuss matters pertaining to all IIMs.
•The bill also proposes to incorporate many other changes like audit of institutes by the Comptroller and Auditor General of India.



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