The GST alone has five different amendments that would also make compliance easier for the MSME (Micro, Small and Medium Enterprises) sector, she added

CBDT further explained that the filing of return will not be hampered by the updating of utility as the taxpayers are permitted to file their Income-tax returns using this software utility which is available at that point of time

Sitharaman says efforts like extensive automation of business processes, application of e-way bill mechanism, and targeted action on compliance verification have improved the GST revenue collection

CBDT Chairman P C Mody said that the tax department does not need to undertake such measures as it can obtain various information and data sets from multiple agencies and possesses a strong data analytics setup

Besides increasing the tax base, the CBDT's action plan for 2019-20 also focusses on litigation management, improving compliance and enforcement

A new income tax filer is defined as a person who is not included in the tax filing base at the beginning of the year but subsequently files his/her income tax return during the fiscal. In FY19, about 1.10 crore new tax filers came into the net.

The government has initiated or proposed to initiate projects to further improve the technology backbone of the Income Tax department which would result in enhanced time-bound services to the taxpayers in addition to increasing their voluntary compliance.

Union Budget 2019: Once this proposal will get green light in the Parliament, individuals will be able to use Aadhaar cards instead of PAN cards to conduct financial transactions, for instance, mutual fund investments, buying gold, and others.

Union Budget 2019: With an aim to promote the usage of electric vehicles, a taxpayer will now get an additional tax deduction of Rs 1.5 lakh under section 80EEB on the interest he or she pays on a loan taken to purchase an electric vehicle, provided the loan must be sanctioned between 1st April 2019 to 31st March 2023 and the taxpayer does not own any other electric vehicle on the date of sanction of loan.

While the Budget did not provide much incentive to middle or lower income group, it is hard hitting for the super-rich. True to the intent of the Government, the Budget focusses on increasing tax compliance and at the same time easing the processes.

The Budget sets the ball rolling on key agenda of the Modi 2.0 government

Retail credit card companies, which make decent profit on business from large retailers, will now be affected as retailers will be inclined to provide other e-payment options to customers

Banks and other institutions will make backend upgrades to allow acceptance of Aadhaar in all places where quoting PAN is now mandatory, Revenue Secretary Ajay Bhushan Pandey said Saturday

The maximum numbers are proposed to be added from the northwest region, at 12,50,683, followed by the Pune region at 12,22,676, Gujarat 11,96,129, Tamil Nadu 9,35,501, Andhra Pradesh and Telangana 9,22,465, among others