India moving from tax terrorism to tax transparency, says PM Modi
New Delhi | Jagran News Desk: Prime Minister Narendra Modi on Wednesday underscored a host of tax reforms undertaken by the NDA government in the last six years and added the country is witnessing huge change and transparency in the entire tax system. The Prime Minister was speaking at the inauguration event of an office-cum-residential complex of Income Tax Appellate Tribunal (ITAT) in Cuttack, Odisha through video conferencing on Wednesday.
"The country is moving towards Tax Transparency. This change from Tax Terrorism to Tax Transparency has come because we are going ahead with the approach of Reform, Perform and Transform," he said.
Underling the steps being taken to transform the tax administration, the prime minister said, "We are reforming rules, procedures and taking full help of technology in it. We are performing with clear intentions."
The prime minister also noted how the tax reforms have helped in creating a hassle-free tax return process.
"99.75% of the returns filed in the country today are accepted without any objection. This is a big change that has come in the country's tax system," he said.
"Nil tax on income of up to Rs 5 lakh is helping low-income individuals and Corporate tax has also seen a historic reduction," he added.
The Prime Minister further said not much happened post Independence to change the exploited and exploiter relation between the taxpayer and tax collector. But now change is happening, he said and went on to cite measures like faceless appeals, quick refunds and dispute resolution mechanism.
"We are reforming rules and procedures and using technology," he said, adding the tax administration is being transformed. India, he said, is among the select few nations which have codified rights and responsibilities of taxpayers. "This is an important step in restoring trust and transparency between taxpayer and tax collector."
Posted By: Rakesh Kumar Jha