Page Contents
On 13 August PM Modi will launch the platform ‘Transparent Taxation – Honoring the Honest’, The upcoming platform would help CBDT’s reform agenda to make the tax filing process clearer and simpler, the Ministry of Finance said.
The CBDT has taken a number of steps in recent years to boost transparency and introduced direct tax reforms: PMO.
In the run-up to Independence Day, in a bid to honor honest taxpayers, Prime Minister Narendra Modi is preparing to launch the Transparent Taxation Honest Platform, a move that will enhance attempts to reform and streamline our taxation system.
The system that will be launched today is expected to continue the journey of direct tax reforms that have been undertaken over the last six years.
The IT Department also outlined the Direct Tax “Vivad Vishwas Act, 2020,” under which declarations for settlement of disputes are currently being filed, in order to provide for the resolution of pending tax disputes.
The monetary requirements for filing departmental appeals in multiple appellate courts have been increased to efficiently raise taxpayer lawsuits and litigation.
Several measures were taken to promote digital transactions as well as electronic payment methods.
The IT dept is determined to take measures forward and has also made efforts to ease adherence for taxpayers during the COVID period by trying to extend statutory timeliness for filing returns as well as releasing refunds promptly to increase liquidity in the hands of taxpayers.
The Prime Minister’s forthcoming announcement of the “Transparent Taxation-Honoring the Honest” initiative would begin the path of direct tax reforms.
we hope, this will improve the quality of assessments, even if there would be more litigation at ITAT/HC/ SC level due to the difference of opinion of Tax Payers and the Income Tax Department.
Popular blog:-
New cheque clearing process in India starting from October 4, 2025 Existing System (Until Oct 3, 2025) : Clearing Method:… Read More
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer… Read More
Taxation Comparison: Gold Coin vs Gold Jewellery Tax Aspect Gold Coin Gold Jewellery ITR Reporting Treated as a capital asset.… Read More
Crypto Taxation & ITR Reporting Guide Tax on Profits from Crypto (Virtual Digital Assets)- Taxation U/s 115BBH Applicability on Virtual… Read More
Savings Account – Rules for Transactions to Avoid Income Tax Scrutiny The Income Tax Department monitors high-value transactions through banks’… Read More
Quick Guide on GST Marginal Scheme What is GST Marginal Scheme Meaning : The GST Margin Scheme is applicable primarily… Read More