PM Modi Photograph:( WION )
'Transparent Taxation - Honoring the Honest' platform launch is expected to carry forward the journey of direct tax reforms undertaken during the last six years.
Prime Minister Narendra Modi on Thursday launched 'Transparent Taxation - Honoring the Honest' platform. He said it will strengthen efforts of "reforming and simplifying India's tax system".
Also read: Faceless assessment, taxpayer charter has come into force from today, says PM Modi
The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws.
"Our tax system should be seamless, painless and faceless. Seamless means that the tax administration should work to solve the problem instead of confusing taxpayers," PM said.
Speaking about the tax reforms announced by the Centre, PM said, "Taxes have also been reduced in the country along with the complexities of procedures. Tax is now zero on income of up to 5 lakh rupees. The tax has also been reduced in the remaining slabs. We are one of the lowest tax consuming countries in the world in terms of corporate tax."
#FacelessAsssessment has benefits like making tax assessment fair,transparent,ensuring ease of compliance & improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious & efficient disposal.(5/7)#HonoringTheHonest pic.twitter.com/zVo4De8V5Q— Ministry of Finance (@FinMinIndia) August 13, 2020
The facility of faceless appeal will be available for citizens across the country from September 25. Today as the tax system is becoming faceless, it is giving more confidence to the taxpayer of fairness and fearlessness.
"The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said.
Several initiatives have been taken by the Central Board of Direct Taxes (CBDT) to bring efficiency and transparency in the functioning of the Income Tax (IT) department, according to officials.
The Prime Minister will also unveil the next phase of direct tax reforms aimed at easing compliance and rewarding honest taxpayers in a bid to rebuild Indian economy, which has been hit by the coronavirus pandemic and the resultant lockdown.
(With inputs from agencies)