Prime Minister Modi launched a new tax scheme on Thursday in a bid to honour and encourage honest tax payer of the country. A platform ‘Transparent Taxation- Honoring the Honest’, which, he said will strengthen efforts of reforming the tax system. The platform will ease tax compliance, the PM said on Thursday.
PM Modi in his video conference addresses that “The government is now focussing on making tax-paying seamless, painless, and faceless. Faceless as it shouldn’t matter who is paying tax and who is tax officer,”
PM Modi said “The ‘Transparent Taxation – Honoring The Honest’ platform will bring in faceless assessment, faceless appeal, and taxpayers’ charter. Faceless assessment & taxpayers’ charter come in force from today, whereas faceless appeal service will be available from September 25,”
He added that “The taxpayer will now be given the respect they deserve. The taxpayer will now be trusted, not looked at with doubt. The (tax) department will have to carry out the steps and processes in a time-bound manner,”
The Central Board of Direct Taxes or CBDT has carried out several major tax reforms in direct taxes in recent years, the statement pointed out. Last year, corporate tax rates were reduced from 30 per cent to 22 per cent, and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution tax was abolished.
-Davinder Panesar, NMTV News