Not a gift. Got just praise and a bunch of rules! In a country of 130 crore, only 1.5 crore income taxpayers. And that's all they received from the Prime Minister on this day. Narendra Modi was limited to calling these 1.5 crore people the builders of the country and honest citizens. Taxpayers expecting an encouraging reward or discount in return have to be disappointed. On Thursday, the Prime Minister launched a new income tax reform program and a new project called 'Transparent Taxation' through video conferencing. Whose main goal is to provide more government services and solutions to honest and regular taxpayers. Modi announced a detailed list of taxpayers' rights.
Hopefully, there could be some positive decisions in this new income tax reform, such as reducing the tax burden, between the lockdown and the financial recession. But that is not the case. Just a bunch of rules, which will simplify the complex tax-analysis system. Particular emphasis has been placed on faceless assessment system. According to Modi, this will not result in tax evasion by exerting influence on the staff-officers of any income tax department. Again, the income tax staff-officers cannot harass even by identifying the honest taxpayer. Besides, no additional tax will be collected from this time. According to the law, an attempt will be made to collect as much income tax as the person pays. The government is going to stop the refund process by taking this perfect measure. Under the current rules, more taxes are levied in advance without proper analysis. Later, the taxpayer has to go through various time consuming processes to recover the extra money. This new system is to free the taxpayer from such troubles.
On the same day, Modi further assured that from now on, the income tax department will treat taxpayers with more respect. They will be trusted. No one will be harassed without proof. Besides, there was no hope in the face of the Prime Minister for the people who have been paying income tax year after year. However, he is more worried about the people outside the scope of the tax structure. Expressing anger over the issue, he said, "In a country of 1.3 billion people, only 1.5 crore people are paying income tax according to the rules." It's unfortunate. It cannot be that everyone else is unable to pay income tax. So my request is that those who are able to pay income tax, but for some reason are not in the tax structure network, should pay income tax on their own. Every Indian should be a part of nation building. In this way, the country will become truly self-reliant.
On the other hand, the Prime Minister has blown away all the financial reforms of the past. Clearly, nothing special has happened in the past. He did not even raise the issue of Manmohan Singh and PV Narsingh Rao in 1991. Rather, he says, everything that has happened since independence is just a small change. No big decision. We are making real reforms. What little happened before, to be forced. But we are paving the way for planned financial reforms. '
Hopefully, there could be some positive decisions in this new income tax reform, such as reducing the tax burden, between the lockdown and the financial recession. But that is not the case. Just a bunch of rules, which will simplify the complex tax-analysis system. Particular emphasis has been placed on faceless assessment system. According to Modi, this will not result in tax evasion by exerting influence on the staff-officers of any income tax department. Again, the income tax staff-officers cannot harass even by identifying the honest taxpayer. Besides, no additional tax will be collected from this time. According to the law, an attempt will be made to collect as much income tax as the person pays. The government is going to stop the refund process by taking this perfect measure. Under the current rules, more taxes are levied in advance without proper analysis. Later, the taxpayer has to go through various time consuming processes to recover the extra money. This new system is to free the taxpayer from such troubles.
On the same day, Modi further assured that from now on, the income tax department will treat taxpayers with more respect. They will be trusted. No one will be harassed without proof. Besides, there was no hope in the face of the Prime Minister for the people who have been paying income tax year after year. However, he is more worried about the people outside the scope of the tax structure. Expressing anger over the issue, he said, "In a country of 1.3 billion people, only 1.5 crore people are paying income tax according to the rules." It's unfortunate. It cannot be that everyone else is unable to pay income tax. So my request is that those who are able to pay income tax, but for some reason are not in the tax structure network, should pay income tax on their own. Every Indian should be a part of nation building. In this way, the country will become truly self-reliant.
On the other hand, the Prime Minister has blown away all the financial reforms of the past. Clearly, nothing special has happened in the past. He did not even raise the issue of Manmohan Singh and PV Narsingh Rao in 1991. Rather, he says, everything that has happened since independence is just a small change. No big decision. We are making real reforms. What little happened before, to be forced. But we are paving the way for planned financial reforms. '
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