Prime Minister Shri Narendra Modi on August 13, 2020 launched a platform for “Transparent Taxation – Honouring the Honest” through video conferencing.
Salient Features
As per the Prime Minister, the new facilities launched today are a part of the Government’s resolve to provide maximum governance with minimum government.
The platform of “Transparent Taxation – Honouring the Honest, has been launched to meet the requirements of the 21st century taxation system.
The platform has major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter.
Faceless Assessment and Taxpayers Charter have come into force from August 13 while the facility of faceless appeal will be available for citizens across the country from 25th September i.e. Deen Dayal Upadhyay’s birth anniversary.
The new platform apart from being faceless is also aimed at boosting the confidence of the taxpayer and making him/her fearless.
The latest laws reduced the legal burden in the tax system where now the limit of filing cases in the High Court has been fixed at up to 1 crore rupees and up to 2 crores for filing in the Supreme Court.
Initiatives like the ‘Vivaad Se Vishwas’ Scheme pave the way for most of the cases to be settled out of court.
The tax slabs have also been rationalised as a part of the ongoing reforms where there is zero tax upto an income of 5 lakh rupees, while the tax rate has reduced in the remaining slabs too.
The ongoing reforms aim at making the tax system Seamless, Painless, Faceless. He said the Seamless system works to resolve the problems of a taxpayer instead of entangling him further.
