InvestorQ : What is the purpose of the recently launched Transparent Taxation Platform by Prime Minister Narendra Modi?
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What is the purpose of the recently launched Transparent Taxation Platform by Prime Minister Narendra Modi?

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Arusha Ray answered.
2 months ago
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The platform launched by Prime Minister Narendra Modi aims at making tax payment simpler and more transparent in a bid to encourage more people to pay their taxes. With this new platform, the government has introduced a faceless income tax assessment to reduce the scope for corruption and overreach by officials.

The faceless assessment and taxpayer charter will come into place from today (13th August 2020), while the faceless appeal is going to be applicable from September 25. The current number of taxpayers in the country is significantly low at only 1.5cr. The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. With this reform, the government hopes to add more taxpayers to the tax system.

India’s tax system has been crippled with a lot of complexities and paperwork, which makes it an unpleasant experience for taxpayers. A persistent issue the current administration has received criticism on is the issue of taxation, despite genuine attempts at improving the tax structure. The government has undertaken various tax reforms in the past six years.

The Centre has cut the corporate tax to 22% from 30% for existing companies, and 15% for new manufacturing units and scraping of dividend distribution tax in recent times. The Income Tax Department has simplified the income tax return filing process, lowered taxes for the common man, and launched its "Vivad Se Vishwas" scheme to expedite the resolution of pending tax disputes.

The Transparent Taxation Platform is one more step in simplifying the India tax structure, thereby enticing more and more people to file their taxes. 


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