Transparent Taxation – Honoring the Honest comes into action-Prime Minister Narendra Modi

Transparent Taxation - Prime Minister Narendra Modi
Transparent Taxation - Prime Minister Narendra Modi

Prime Minister Narendra Modi has said that law and taxation policy should be people-centered and announced the launch of a new scheme called “Transparent Taxation-Honoring the Honest”.

The event was attended by Prime Minister Modi, Finance Minister Nirmala Sitharaman, Minister Anurag Tagore, representatives of various trade unions, members of the Chartered Accountants Association and taxpayers.

Speaking at the launch of the program, Prime Minister Modi said that the timely taxpayers are concerned with the country’s welfare and the scheme to glorify the honest would be implemented from September.

Inaugurating the scheme, Finance Minister Nirmala Sitharaman said the new scheme would be transparent. All accounts can be paid online. Realizing this, the Central Direct Tax Board has developed the plan to Honor the honest and kept it for the people. For taxpayers, the procedure for obtaining a refund has been simplified.

The scheme includes Faceless Assessment, Faceless Appeal and a Taxpayer Charter. Of these three, both Faceless Assessment and Taxpayer Charter come into effect today. The Prime Minister has said that Faceless appeal will come into effect from September 25, 2020.

Adding more inputs on the tax scheme, Modi stated that “Simplifying the tax system can encourage more taxpayers. Honest taxpayers have an important role to play in the progress of the country”. He also said that honest taxpayers should have faith in the country’s tax collection system.

Income tax inquiries (Scrutiny) have declined significantly over the past six years. At the same time, the number of income tax filers has increased by 2.5 crore. Everyone has to file income tax. It’s our duty to file income tax and Modi welcomes every citizen to do the needful for the growth of the nation.

The ultimate aim of the scheme is that “So far, the income tax department in our town has taken care of all the work. It will not be like that anymore. With the help of technology, Income Tax Inspections & Inquiries can all be randomly assigned to any Income Tax Officer”.