Tax Reform
The session of the Lok Sabha has started from today, in which questions related to a lot of work and their answers have been given. This question is related to tax reform. For read this questions and their answer which is given by them, read below. In the Reply of question raised in Loksabha, Loksabha Member Mohammad Shri Faizal replied that the answer of these questions which has raised.
Will the Minister of FINANCE be pleased to state:-
(a) whether the Government has analysed theat the latest tax reforms initiatives is a watershed moment in India’s sustained efforts to usher in a friendlier and more transparent direct tax regime;
(b) if so the details thereof;
(c) whether any new methods have been introduced to eliminate the risk of harassment of assessees by tax officials; and
(d) if so, the details thereof?
To know the answer of above questions reg. Tax Reforms please see below the full text of Loksabha Unstarred Question No. 230.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO: 230
ANSWERED ON: 14.09.2020
Tax Reforms
Faizal P.P. Mohammed
Will the Minister of FINANCE be pleased to state:-
(a) whether the Government has analysed theat the latest tax reforms initiatives is a watershed moment in India’s sustained efforts to usher in a friendlier and more transparent direct tax regime;
(b) if so the details thereof;
(c) whether any new methods have been introduced to eliminate the risk of harassment of assessees by tax officials; and
(d) if so, the details thereof?
ANSWER
THE MINISTER OF STATE IN MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) to (d) Over the last few years, in order to provide a non-intrusive and non-adversarial tax ecosystem, the government has taken various measures to reform the direct tax regime. Some of these measures include rationalisation of tax rates, simplification of income tax return forms, faster processing of refunds, speedy resolution of grievances and introduction of faceless processes to ease the compliance burden on taxpayers and minimise the physical interface between the taxpayer and the income tax authorities. In August 2020, government has launched ‘Transparent Taxation–Honouring the Honest, which is a platform to meet the requirements of the 21st century taxation system. The platform has major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter. The Faceless Assessment Scheme, 2019 (earlier known as the E-assessment Scheme, 2019) was introduced in 2019 to impart efficiency, transparency and accountability to the assessment process by inter alia eliminating the interface between the Assessing Officer and the assessee and team-based assessment with dynamic jurisdiction. Similar scheme will be introduced for disposal of appeals by the Commissioner (Appeals) in a faceless manner.
——