Business Desk: If you are also an honest tax payer, today you are going to get a big gift. Prime Minister Narendra Modi is going to launch a ‘transparent taxation-respect for honest’ platform, which will improve our tax system and further strengthen efforts to simplify it.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman and Minister of State for Finance and Corporate Affairs Anurag Singh Thakur will also be present at the event through video conference. PM Modi wrote in tweet that ‘Transparent taxation-Honoring Honest’ platform will be launched on Thursday, August 13 at 11 am. This will further strengthen efforts to improve and simplify our tax system. This will be beneficial for many honest taxpayers whose hard work empowers the country to move forward.
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A statement issued by the Prime Minister’s Office said that apart from officials and officials of the Income Tax Department, well-known taxpayers along with various chambers of commerce, trade associations and chartered accountant associations will also attend the event. The Central Board of Direct Taxes (CBDT) has implemented several major or major tax reforms in direct taxes in recent years. Last year, the rate of corporate tax was reduced from 30 percent to 22 percent and for new manufacturing units this rate was further reduced to 15 percent.
The statement said that under the tax reforms, the focus has been on reducing tax rates and simplification of direct tax laws. According to the statement, the department has also made several efforts to ease compliance for taxpayers during the ‘Kovid era’, under which the statutory deadline for filing returns has been extended and to increase liquidity or cash flow in the hands of taxpayers. Refunds have been issued for fast.
