Prime Minister Narendra Modi on August 13, 2020 launched the ‘Transparent Taxation – Honoring the Honest’ platform to further its initiative to reform direct taxes in India through fundamental and structural reformation. Union Finance Minister Nirmala Sitharaman said, “Today is the landmark day in the history of the taxation administration. The launch will bring certainty of information.”
At Paperwork, we understand the significance of transparent taxation and the role it plays in building trust between taxpayers and the government. That’s why we’re committed to providing expert tax solutions that empower individuals and businesses to navigate the complexities of tax compliance with honesty and integrity.
The platform is aimed at bringing more transparency in official communication through the newly introduced Document Identification Number (DIN). PM Modi said the ongoing structural reforms have reached new heights today and this platform will have:
- Faceless assessments (effective from August 13, 2020) – The objective is to impart greater efficiency, transparency, and accountability eliminating the physical interface between the taxpayer and tax officers. Automated random allocation of cases across all the states through the system using data analytics and AI. Draft assessment order in one city, review in another city, and finalization in the third city. 2/3rd of the manpower is utilized for faceless and balance for other functions.
2.Faceless appeal (effective from September 25, 2020)
3. Taxpayer charter (effective from August 13, 2020) – He further said that this faceless tax system is going to give fairness and fearless experience to all the taxpayers. This is one of the most important gifts to all the honest Indian taxpayers from the Government of India.
The prime minister said honoring the honest taxpayer will help in nation-building and that the platform’s launch was another step towards ‘minimum government, maximum governance’. For the last couple of years, the focus was on banking the unbanked, securing the unsecured & funding the unfunded. Today in a way this new journey has started towards achieving this pre-set goal.
From today onwards the focus is on removing all the policies from the process and power-centric approach to making the tax system “people-centric and public friendly.”
Four factors for changes in the taxation system are due to:
- policy-driven governance
- belief in people’s honesty
- the use of advanced technology and
- efficiency in bureaucracy
According to Modiji; “Where there is complexity, there is a problem in compliance”. He further added saying the Indian taxation system is striving towards seamless, painless, and faceless for honest taxpayers. In the last six years, India in tax administration has seen the expansion of new governance model. We have successfully decreased complexity, decreased taxes, decreased litigation, increased transparency, increased tax compliance, and increased trust in the taxpayers.
In a country of 130 crores, only 1.5 crore people pay income tax (Not even 2%). Paperwork e-Accounting Services LLP is urging our fellow citizens to pay income tax as it is the betterment for their future first and then the country’s development.
Paying taxes & paying taxes on time should be every Indian’s foremost responsibility towards the nation.
In conclusion, transparent taxation is not just a legal requirement; it’s a moral imperative. By honoring the honest and upholding the principles of honesty and integrity in our tax affairs, we contribute to the greater good of society. With Paperwork’s expert tax solutions, you can navigate the complexities of tax compliance with confidence and integrity, knowing that you have a trusted partner by your side.
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