PM Narendra Modi launched platform for Transparent Taxation - Honouring the Honest

Highlights:

  • India's Prime Minister Narendra Modi launched a platform for "Transparent Taxation - Honouring the Honest" through video conferencing on 13 August 2020. 
Details Analysis:
  • The platform is expected to meet the requirements of the 21st-century taxation system. 
  • The platform has major reforms like Faceless Appeal, Faceless Assessment, and Taxpayers Charter. 
  • The platform focuses on the reduction in tax rates and simplification of direct tax laws,
  • Transparent Taxation - Honouring the Honest:
  • With this launch, the Faceless Assessment and Taxpayers Charter have come into force. 
  • The facility of faceless appeal will be available for citizens across the country from 25th September, 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 platform is in line with the GoI's move towards "Banking the Unbanked, Securing the Unsecured and Funding the Unfunded".
  • With Tax Charter, taxpayers will now be assured of fair, courteous, and rational behavior.
  •  It aims to provide resolution of pending tax disputes, the department also brought out the Direct Tax Vivad se Vishwas Act, 2020. 
  • Currently, declarations for settling disputes are being filed under this.