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Transparent Taxation - Honouring the Honest

 
The honourable prime minister has unveiled a new tax reform by launching a platform “transparent taxation- honouring the honest” with the effect from 14th August 2020.
The purpose of this platform is to meet the requirements of the 21st century taxation system. The newly introduced platform has major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter. The Faceless Assessment and Taxpayers Charter have come into force from 14th August 2020, while the facility of faceless appeal will be available for citizens across the country from 25th September.
The recently inaugurated platform will work in the same direction with the aim of government of “Banking the Unbanked, Securing the Unsecured and Funding the Unfunded”. The new facilities launched today are a part of the Government’s resolve to provide maximum governance with minimum government. The main aim is that every rule, law and policy are made with an emphasis of them being people centric, public friendly rather than power centric. The government is creating an atmosphere where primacy is being given to duty to execute all works. This is the result not because of force and fear of punishment but because of an understanding of the holistic approach that is being adopted
The latest laws reduced the legal burden in the tax system where now the limit of filing cases in the High Court has been fixed at up to 1 crore rupees and up to 2 crores for filing in the Supreme Court. Initiatives like the 'Vivaad Se Vishwas' Scheme pave the way for most of the cases to be settled out of court. The tax slabs have also been rationalised as a part of the ongoing reforms where there is zero tax up to an income of 5 lakh rupees, while the tax rate has reduced in the remaining slabs too.
 The on-going reforms aim at making the tax system Seamless, Painless, Faceless. The Seamless system works to resolve the problems of a taxpayer instead of entangling him further. By being Painless everything from technology to rules should be simple and there is no need for direct contact between the Taxpayer and the Income Tax Officer in all matters of scrutiny, notice, survey, or assessment.
The taxpayer charter takes care of maintaining the dignity and sensitivity of the taxpayer, that is based on a trust factor, and that the assessee cannot be merely doubted without a basis. Through the charter, the taxpayer is now assured of fair, courteous and rational behaviour.

For more information contact below:-
Compliance Chambers

Advisory & Consulting
Address F-2 / 151, Sector - 11
Rohini, New Delhi |  Pin Code 110085
Email Us at: compliance.chambers@gmail.com
Website: https://compliancechambers.blogspot.in/
Abhimanyu Rajpurohit:  +91 93100 48341, +91 7838060605
Manish Nama:               +91 88007 22330, +91 88004 22330
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