Finance Minister Nirmala Sitharaman praises the I-T Department for being responsive to people as CBDT observes 160th Income Tax day towards Nation Building.
On the 160th anniversary of Income Tax Day on Friday, July 24, 2020, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman appreciated the Income Tax (I-T) Department for its efforts to make the tax administration taxpayer-friendly, transparent and also for facilitating voluntary compliance.
While the Central Board of Direct Taxes (CBDT) and its field offices across India observed the Income Tax Day, the Finance Minister praised its role in recent years for the paradigm shift from being just a revenue collecting authority to becoming a more citizen-centric organisation.
Citing the various reform measures – like introduction of a new, simpler tax regime, reduced corporate tax rates, concessional tax rates for domestic manufacturing companies – she stressed that the recent steps will pave the way for an ‘Aatma Nirbhar Bharat’.
Terming the relaxation given on various compliance requirements to address the liquidity concerns of the taxpayers during the time of Covid-19 pandemic, the FM lauded the I-T Department for being responsive and expressed her confidence that the Department would not only play a critical role in the growth of the nation, but will also set new standards of professionalism.
Appreciating the Department, Union Minister of State for Finance & Corporate Affairs Anurag Thakur expressed his satisfaction for promoting e-governance and providing dispute resolution to reduce litigation by bringing in the Vivad Se Vishwas Act.
Recognising the measures adopted by the I-T Department for imparting transparency to its processes and eliminating scope for unwarranted use of discretionary powers Finance Secretary Ajay Bhushan Pandey appreciated the Department for having increasingly oriented itself towards becoming taxpayer-service centric without compromising its enforcement role.
Wishing the members of the Aaykar Parivar and their families on the Income Tax Day, CBDT Chairman P C Mody reiterated the commitment of the I-T Department towards further improving the compliance experience for taxpayers and also making inclusiveness, fairness and transparency its guiding principles.