In a move to benefit the taxpayers of the nation, Prime Minister Narendra Modi is to launch “Transparent Taxation – Honoring The Honest” platform that will honour the honest taxpayers of the country, today at 11:00 am via video conferencing. As per the government, the platform will come with major tax reforms which are expected to bring transparency in the income tax systems.
PM Modi tweeted about the announcement, “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.”
Through the course of time, the tax department has brought ion various reforms like reduction in corporate tax, the abolishment of dividend tax, etc. The new platform will be another step which will make the lives of the taxpayers easier. Also, the tax department has been focussing on simplifying direct tax laws and making the processes more transparent. And, the rolling out of Document Identification Number (DIN) was a major step in this regard.
Moreover, in order to make compliances more convenient to the taxpayers, the IT department has moved forward with the prefilling of income tax returns, also, compliance norms for startups have also been streamlined.