Prime Minister Narendra Modi on Thursday announced new tax policy,Transparent taxation — honoring the honest
#Narendramodi, #newtaxpolicy,#Transparenttaxationhonoring the honest
|PM Modi announce new tax policy, Transparent taxation — honoring the honest|
New Delhi – Prime Minister Narendra Modi on Thursday announced new tax reforms in the country. He has issued taxpayer certificates in the country. ‘Transparent Taxation- Honoring Honest’ i.e. ‘Transparent Taxation- Honor of Honor’ has inaugurated a new platform for honest taxpayers. He also announced a new faceless assessment project. Under this new scheme, the entire tax payment process has been given a huge boost to the taxpayers. All systems will run in a fully mechanized manner
What is the main point of Transparent taxation — honoring the honest,of narendra modi announce new tax policy
1. Prime Minister Modi on Thursday announced a faceless assessment scheme, narendra modi announce new tax policy,implementing taxpayers’ certificates. The new project will be launched on September 25, 2020. The government aims to bring confidence and transparency in the tax process.
2.A transparent taxation platform has been created for this. The Prime Minister said that the announce new tax policy,platform has undergone major tax reforms like Faceless Assessment, Faceless Appeal and Taxpayer Certificate.
3. Taxpayers and tax officials are being facilitated to complete the assessment process without any communication. This will ensure that there will be no direct communication between the income tax office and the taxpayers. It will be technology dependent and it will be a more transparent process.
4.Any assessment and the taxpayer will know the date of payment of all his taxes in an automatic system through a computer, in an automated manner. This will change from time to time. The data will be used for analysis and assessment of artificial intelligence, so that taxpayers do not have to go to the income tax office with their complaints.
5.Taxpayers have also been exempted from the rules of assessment jurisdiction. That is, taxpayers can do their assessment with computers anywhere, including anyone. Information about which tax officer will receive which case will not be made public.
6. Under this there will be an evaluation team and reviews. At the same time, the draft assessment will be done in another city, the review will be done in another city, and the finalization will be done in another city.
7. In some cases faceless tax assessment schemes Transparent taxation — honoring the honest will not be available.
This benefit will not be available in cases of serious fraud, tax evasion, sensitive and investigative cases, international taxes, black money law and anonymous property.