Transparent Taxation To Strengthen Our Commitment To Minimum Government, Maximum Governance, Says Modi

New arrangements, new facilities, starting today, strengthen our commitment to Minimum Government, Maximum Governance, stressed Modi.

PM Modi in his speech today said the emphasis is on making every rule-law, policy people-centric and public friendly. This is the use of the new governance model and the country is getting its results.

New Delhi: Those businesses facing the wrath of taxation can look forward to the ease of taxation norms as the Prime Minister Narendra Modi on Thursday launched a platform ‘Transparent Taxation Honouring The Honest.’ “The structural reforms in India have today reached a new height and this specific reform in the 21^st century namely ‘Transparent Taxation Honouring The Honest will enable faceless assessment, faceless appeal and tax payer charter,”  said Prime Minister Modi during the launch. (Watch LIVE TV) The Tax Payer charter has been implemented form today itself whereas the faceless appeal will be made available from 25th September.

"Compliance is also difficult where there is complexity. At least there should be a law, if the law is very clear, then the taxpayer is happy as well as the country. This work has been done for some time. Like now, GST has come in place of dozens of taxes," noted the PM.

New arrangements, new facilities, starting today, strengthen our commitment to Minimum Government, Maximum Governance. This is a big step in the direction of reducing the interference of the government from the life of the countrymen, noted the PM. The move is expected to strengthen efforts of reforming and simplifying our tax system, as the government looks to rebuild the pandemic-hit economy. The platform which will be launched today is expected to further carry forward the journey of direct tax reforms undertaken during the last six years. The statement issued on Wednesday said tax reforms include bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number. Tax reforms over the years, include reduction in corporate tax last year to 22 per cent from 30 per cent for existing companies and 15 per cent for new manufacturing units, scraping of dividend distribution tax and faceless assessment. The Budget for 2020-21 fiscal unveiled on February 1, had announced a 'taxpayer charter', which is expected to have statutory status and will empower citizens by ensuring time-bound services by the Income Tax department. The charter will ensure trust between a taxpayer and the administration and reduce harassment, as well as increase efficiency of the department, Sitharman had said in her Budget speech. To increase the ease of compliance for taxpayers, the I-T Department has moved forward with the pre-filling of income tax returns to make compliance more convenient for individual taxpayers.