new Delhi. Finance Minister Nirmala Sitharaman said on Thursday that faceless assessment and appeals will help reduce the burden of complaints of taxpayers and increase fairness in the tax system. Prime Minister Narendra Modi launched a transparent taxation-honest respect platform with the intention of further improving the tax system. It is considered an important step towards tax reforms.
The Prime Minister also announced a Charter (Charter) for taxpayers. The facility of faceless appeal in tax matters will be available for citizens across the country from 25th September i.e. Deen Dayal Upadhyay's birthday. Sitharaman said that today is a very important day in the history of tax administration. He also added that Prime Minister Modi's intention is to empower taxpayers, create a transparent system and honor honest taxpayers.
The Finance Minister said that to realize this objective, CBDT has prepared a draft and a new system has been implemented as a platform through which tax administration has been made transparent, efficient and accountable. The platform also uses technology, data analytics and artificial cloud.
He said that this platform reduces the burden of complaints from taxpayers and makes the functioning easier. He said that the Income Tax Department has made several reforms, including reducing the corporate tax rate for existing manufacturing units from 30 percent to 22 percent. The Income Tax Department has also given information by tweeting about the facilities and concessions offered by the department to the taxpayers.
This post was published on August 13, 2020 4:22 pm
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