Prime Minister Narendra Modi on Thursday launched a platform to appreciate the sincere taxpayers of the nation. While addressing the launch of ‘Transparent Taxation – Honouring The Honest’ platform through video conferencing, the Prime Minister highlighted that the new platform would alter the manner in which taxes have actually been paid in India.
Here are the highlights from the Prime Minister’s address:.
1. Prime Minister Narendra Modi stated that ‘Transparent Tax – Honouring The Honest’ platform will present reforms such as faceless evaluation, faceless appeal, and taxpayers charter. Faceless assessment and taxpayers charter will enter into force from today whereas faceless appeal reform will be available from Sept 25.
2. PM Modi stated honest taxpayers play a crucial role in nationwide advancement. Prime Minister Modi during his virtual address highlighted that the honest taxpayers play an important role in nationwide development. He pointed out that when the life of an honest taxpayer is streamlined, he progresses which results in advance of the country too.
3.” In the earlier days, there used to be a lot of talk about reforms. Sometimes decisions were decisions were taken out of compulsion or pressure and were called reforms. Due to this, the desired results could not be achieved. Now both the thinking and approach have changed,” Prime Minister Modi said.
4. Prime Minister Narendra Modi during his virtual address explained that in the last six years, the country has witnessed the evolution of a new governance design in tax administration. Intricacy, tax, litigation reduced whereas transparency, tax compliance and trust on the taxpayer increased, he said.
5. “Out of all the tax returns in the year 2012-13, scrutiny of 0.94 per cent was done. In the year 2018-19, this figure has come down to 0.26 per cent. The scrutiny of cases has reduced by almost one fourth,” Prime Minister Modi said.
6. PM Modi stated that India has among the countries with the most affordable corporate tax rates. In 2019, business tax rates decreased from 30% to 22% and rates were even more lowered to 15% for brand-new producing units.
7. Urging people to pay taxes due to them, the Prime Minister stated that while it is the duty of tax authorities to deal with taxpayers with self-respect, individuals must likewise consider paying taxes as their responsibility.
8. PM Modi likewise explained that the number of taxpayers have increased by 2.5 crore after many reforms, but this number is very little in this nation of 130 crore peoples.