Transparent Taxation Platform | What is PM Modi Transparent Taxation? PM Modi Transparent Taxation Methodology |
Today, through this article, we are going to provide you information related to the transparent taxation launched by the Prime Minister of our country, Shri Narendra Modi. On 13 August 2020, Prime Minister Narendra Modi has launched the ‘Transparent Taxation Honoring the Honest’ platform through video conferencing through video conferencing. The country’s Finance Minister Nirmala Sitharaman and Finance and Corporate Affairs Minister Anurag Singh Thakur were also present in this video conferencing. Addressing the nation, Prime Minister Narendra Modi said that through this platform there will be major reforms like faceless assessment, faceless appeal and transparent charter. The Prime Minister also informed that the Faceless Assessment and Transparent Charter will start from today and the facility of appealing decisions will be implemented across the country from the day of Deendayal Upadhyay ji’s birthday which is on 25th September.
- Transparent Taxation Platform
- PM Modi Transparent Taxation Methodology
- Tax System Seamless Painless and Faceless
- simplification of income tax system
Transparent Taxation Platform
In his address, PM Modi said that in the last 6-7 years, there are about 2.5 crore people who have filed income tax returns. Keeping this in mind, PM Modi has come up with a transparent taxation platform. The Prime Minister said that now the tax payer will not need to be afraid. He will be able to pay the tax fearlessly. This means that the Income Tax Department will take care of the dignity of the tax payer and trust the tax payer and the text payer will not be doubted without any basis.https://pmmodiyojana.in/wp-content/plugins/wp-fastest-cache-premium/pro/templates/youtube.html#vPe-BI_h9nM
PM Modi Transparent Taxation Methodology
With this, the High Court has fixed a case limit of up to Rs 1 crore and the Supreme Court up to Rs 2 crore. Through which efforts will be made that the case is settled out of court. Through this platform, the tax system is to be made seamless, panelless and faceless. Through which the tax system will be simplified. The government has also reduced the income tax slab and the Prime Minister has also told that our country is one of the lowest corporate tax collecting countries in the world.
Key Highlights of PM Modi Transparent Taxation Platform
|what is the article about||PM Modi Transparent Taxation|
|Who launched the scheme||central government|
|beneficiary||Citizens of India|
|purpose of the article||The main objective of the platform is to simplify the tax system.|
|Official website||click here|
|Scheme available or not||Available|
PM Modi aims for transparent taxation
The main objective of PM Modi Transparent Taxation is to address all those people who pay taxes honestly. Through this platform, the tax system will be made easy for all the people. So that more and more people file income tax returns and more and more people file taxes. So that the country can develop. The tax system will be made seamless, panelless and faceless through this platform.https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1294159836201078784&lang=en&origin=https%3A%2F%2Fpmmodiyojana.in%2Fpm-modi-transparent-taxation%2F&sessionId=5b0cba46e8bbfb1e9686e8a30564b2ceb048ac75&theme=light&widgetsVersion=75b3351%3A1642573356397&width=550px
Tax System Seamless Painless and Faceless
Prime Minister Shri Narendra Modi said that the text system will be made seamless, panelless and faceless. Painless means the Income Tax Department will have to emphasize on solving the problems of text payer instead of complicating them and hassle-free means everything from technology to rules will be made easy.
simplification of income tax system
Income tax system will be simplified through this reform. In which there will be minimum law and the law which will be there will be clear and easy which the taxpayer will be able to understand easily.
Government intervention will be less now
Through transparent taxation, Prime Minister Narendra Modi said that reforms were talked about at one time, but due to some reason, reforms could not be done. But now this approach has changed. This new system is starting from today, through this new system, the interference of the government in the lives of the countrymen will be reduced.
honoring the honor
Modi said that in the last 6 years the focus of the government has been on Banking the Unbacked, Securing the Unsecured and Funding the Unfunded. Now the government has started this new system which we will know as Honoring the Honest. Under this system, the tax system will be simplified for honest taxpayers.
Who was present at the meeting?
In this meeting, along with Prime Minister Narendra Modi, our country’s Finance Minister Nirmala Sitharaman, officers and officials of Income Tax Department, eminent taxpayers of various Chambers of Commerce, Trade Unions and Chartered Accountants’ Associations were present.
Changes to be made by CBDT
Many major changes have been made by the Central Board of Direct Taxes in the last year. One of these changes is the changes made in the tax slabs. Now no tax will have to be paid on income up to 5 lakhs. CBDT is constantly changing the tax rules. This will bring transparency in the tax system.
Promotion of electronic mode and raising the limit for filing annual returns
Digital transactions are being promoted by the government. Through which today many people of the country make payment through online mode. Because of this, people also get a lot of ease. The deadline for filing annual returns has also been extended by the government in view of the Corona period and the refund process has been expedited to increase the cash flow of the taxpayers.
Benefits and Features of PM Modi Transparent Taxation
- PM Modi Transfer in Taxation has been started by Prime Minister Narendra Modi on 13th August 2020.
- Major reforms like faceless assessment, faceless appeal and transparent charter have been done through this platform.
- The Faceless Assessment and Transparent Charter will be implemented from 13th August 2020 and the decision appeal will be implemented from 25th September 2020.
- The tax system will be simplified through this platform.
- The tax system will be made seamless, painless and faceless.
- Tax rates will also come down through PM Modi Transfer and Taxation.
- The Vivad Se Vishwas Act 2020 has been introduced under which the procedure has been laid down for settlement of disputes. Through this, disputes will be resolved.
- Electronic mode will be promoted through this platform.
- The date for filing income tax return has also been extended due to coronavirus infection.
- Income tax slabs have also been changed. Now no tax will have to be paid up to ₹ 500000.
- India is one of the lowest corporate tax collecting countries in the world.
We have provided you all the important information related to Transparent Taxation in this article. If you are still facing any kind of problem then you can ask us in the comment box. Your comment is very important for us. We will try our best to solve your problem.