Modi

A release issued by the Prime Minister’s Office said, “the focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department”. … [Read more...] about ‘Painless, seamless, faceless’: PM Modi says reforms to change how we pay taxes

Similarly, to increase the ease of compliance for taxpayers, the IT department has moved forward with the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified. … [Read more...] about PM Modi unveils new tax reforms, says it will make taxpayers feel fearless

Further, the Income Tax department has undertaken several measures to promote digital transactions and electronic modes of payment. The department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during Covid-19 time by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers. … [Read more...] about PM Modi to launch Transparent Taxation platform shortly

With the objective of enhancing the efficiency of the delivery system of the Income Tax Department, the government has amended the provisions of the Income-tax Act to mandate the Central Board of Direct Taxes (CBDT) to adopt a Taxpayers’ Charter. Meanwhile, in order to eliminate human interface, the Faceless appeal on the lines of Faceless assessment will be followed. This is aimed at imparting greater efficiency, transparency and accountability to the assessment process. … [Read more...] about Faceless assessment, taxpayers’ charter implemented from today; faceless appeal service will be available from September 25: PM Modi

Prime Minister Narendra Modi on Thursday launched a new taxation platform -'Transparent Taxation Honoring the Honest', which will strengthen efforts of reforming and simplifying our tax system. Modi said that loyal taxpayer plays an important role in nation-building and the move will strengthen the resolve towards minimum government and maximum governance. Faceless assessment, faceless appeal and taxpayer charter are part of new platform. Faceless Assessment and Taxpayers Charter will be implemented from today. "Our effort is that our tax system should be Seamless, Painless, Faceless. Seamless means that the tax administration should work to solve the problem instead of confusing every taxpayer. Everything from technology to rules is simple." Indirectly slamming previous governments, Modi said, "That there was a time when we used to talk a lot about reforms here. Sometimes some decisions were taken under compulsion, sometimes some decisions were made under pressure, then they were … [Read more...] about ‘Seamless, Painless, Faceless’: PM Modi launches new tax platform; says honest taxpayers play an important role in development