Prime Minister Narendra Modi launched the platform for “Transparent Taxation – Honoring the Honest “via video conferencing today. This platform has big reforms such as faceless assessment, faceless appeal, and taxpayers charter. Faceless assessment and taxpayers charter will come in force from today, whereas faceless appeal service will be available from September 25, PM Modi said at the launch.
The event is witnessed by various Chambers of Commerce, Trade Associations, Chartered Accountants’ associations and also eminent taxpayers, apart from the officers and officials of Income Tax Department. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman and Minister of State for Finance and Corporate Affairs Anurag Singh Thakur are also present.
Earlier, PM Modi had tweeted that the launch will happen at 11 am on 13th August.
“At 11 AM on Thursday, 13th August, the platform for “Transparent Taxation – Honoring the Honest” would be launched. This adds strength to our efforts of reforming and simplifying our tax system. It will benefit several honest taxpayers, whose hard work powers national progress,” PM Modi hatweeted.
everal measures have been taken to promote digital transactions and electronic modes of payment. The IT department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during the Covid times by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers.
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. This includes 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.
The Direct Tax Vivad se Vishwas Act, 2020, was also introduced to settle tax disputes.