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PM Modi Speech Live: PM launches taxpayers' charter; says it's big step in country's development journey

PM Narendra Modi Live: Eemphasis is on making every rule-law, policy people-centric and public friendly; this is use of new governance model and country is getting its results, says PM Modi

twitter-logoBusinessToday.In | August 13, 2020 | Updated 16:32 IST
PM Modi Speech Live: PM launches taxpayers' charter; says it's big step in country's development journey
Prime Minister Narendra Modi has launches the platform for 'Transparent Taxation – Honoring The Honest' today

Prime Minister Narendra Modi on Wednesday launched a tax platform to honour the honest taxpayers in India. The platform, "Transparent Taxation - Honoring The Honest", is aimed at bringing transparency in the income tax systems and empowering taxpayers. "Faceless assessment, taxpayers' charter implemented from today as part of tax reforms," PM Modi said during the inauguration of the platform.

Check all the updates on PM Modi speech during the launch of new tax platform

12.15 PM: What is the Faceless Assessment System?

12.13 PM: Faceless Appeal Scheme to be implemented from 25th September 2020 which will bring a new era of Trust, Transparency, and Tax. 

12.10 PM: Glance through the Taxpayer's Charter

12.05 PM: Those who are able to pay tax, but are not in the tax net yet, they should come forward with self-motivation, this is my request and hope, says PM Modi. Let us prove the resolve of new India, self-reliant India, respecting the spirit of trust, rights, obligations, platforms, he adds.

12.04 AM: Amidst all these efforts, the number of people filing income tax returns has increased by about two and a half crores in the last 6-7 years. But it's true that in a country of 130 crores, it is still very less."In such a big country, only 1.5 crore colleagues collect income tax," the PM said.

12.02 AM: Scrutiny reduced by 4 times, which shows how extensive the change is. "In the last six years, India has seen a new model of governance developing in tax administration," the PM said.

11.57 AM: In 2012-13, 0.94% of all tax returns were scrutinised. In 2018-19, this figure came down to 0.26%. This means, case scrutiny has reduced about four times, says Prime Minister Narendra Modi.

11.56 AM: Reform for the current government means policy-based not in piecemeal; hollistic; and where one reform becomes the basis of another. This is a continuous, continuous process: PM Modi.

11.54 AM: In the past six years, India has witnessed the evolution of a new governance model in tax administration. "We have decreased -- complexity, taxes, litigation, and increased -- transparency, tax compliance, and trust on the taxpayer, says the PM.

11.50 AM: Taxpayers charter is also a big step in the country's development journey, says Prime Minister Narendra Modi.

11.41 AM: The PM said the government's effort is to make tax system seamless, painless and faceless. He addds that India is among nations with lowest corporate tax and that for fovernemnt, reform means it should be based on policy and be holistic. "Taxpayer Charter outlining right and responsibility is important development," PM Modi said.

11.40 AM: Honest taxpayers play important role in national development and policy-driven governance minimises grey areas, while cutting discretion, the PM said. He added that fundamental reforms were needed in the Indian tax system.

11.30 AM: Faceless assessment & taxpayers charter come in force from today, whereas faceless appeal service will be available from September 25, says PM Modi.

11.15 AM: The emphasis is on making every rule-law, policy people-centric and public friendly. This is the use of the new governance model and the country is getting its results, says PM Modi.

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