Transparent Taxation Platform Pdf Download| Transparent Taxation Honoring the Honest Platform| पीएम मोदी ट्रांसपेरेंट टैक्सेशन|
Transparent Taxation Platform is launched by Prime Minister Narendra Modi on 13th August 2020 via video conferencing call. Finance Minister Nirmala Sitharaman and Finance and Corporate Affairs Minister Anurag Singh Thakur were also present in this video conferencing. The objective of this platform is to provide a simplified tax system in our country. The पीएम मोदी ट्रांसपेरेंट टैक्सेशन will provide a seamless, faceless taxation system in our country. Today in this post we will provide you complete information about this taxation system. We will provide you information about key benefits, features, and registration process, etc, please read this post till the end.
Table of Contents
PM Modi Transparent Taxation Platform
This taxation platform was launched by Prime Minister of India Shri Narendra Modi on 13th August 2020 via video conferencing. He conveys the message that this transparent platform will introduce reforms such as faceless assessment, faceless appeal, and taxpayer’s charter. He Said that when the life of an honest taxpayer is simplified, he progresses which leads to the progress of the nation too. He also said that through this platform there will be major reforms like faceless assessment, faceless appeal, and transporter charter. This new platform will simplify the taxation system and taxpayers can file their tax without any fear.
पीएम मोदी ट्रांसपेरेंट टैक्सेशन Overview
|Name of Scheme||PM Modi Transparent Taxation Platform|
|Launched By||Central Government|
|Objective||To Simplified the Taxation System|
|Beneficiaries||Residents of India|
What is Transparent Taxation Platform?
This is a new taxation platform or in simple words, new tax scheme which allows the honest taxpayer of India is to file tax in a more simplified manner. This is an Initiative from the central government of India to reform direct tax in India. These reforms will change the way tax-paying method in our country and make the process, people-centric and public-friendly. The platform brings in big reforms like faceless assessment, faceless appeal, and taxpayers’ charter.
What is faceless assessment in Transparent Taxation Platform?
Faceless assessment eliminates face-to-face interactions with taxpayers and Income Tax Department officers rely on a central computer to choose tax returns for analysis based on risk parameters and mismatch and assigning them randomly to officers. Cases will be also being automatically allotted on a random basis. Further, there will be no need for the taxpayer to visit the income tax office or the officer. Additionally, the appellate decision will be team-based and reviewed and any assessment, other than the exceptions to the faceless scheme, will be invalid.
What is Faceless Appeal in Transparent Taxation Platform?
Faceless appeal will see appeals being randomly allotted to any officer in the country with the officer’s identity not being disclosed. The appellate decision will be team-based and reviewed. There will also be no need to visit the officer or the office. The appellate decision will further be team-based and reviewed. Exceptions to this will be cases of serious frauds, major tax evasions, Black Money Act, Benami property etc.
Transparent Taxation Honoring the Honest Platform
The step is introduced to provide smooth and user friendly taxation system in India. In this new taxation platform there will be minimum law and whatever law will be there will be clear and easy which tax payers will be able to understand easily. The tax administration will work to solve the problem instead of engaging every taxpayer – attempting to simplify the process and ensuring it doesn’t matter who is paying tax and who is the tax officer. PM Modi also said that taxpayers will now be given the respect they deserve and trusted. The reforms are aimed at bringing about more trust, fairness, transparency, efficiency, accountability, ease and convenience and therefore, more compliance.
PM Modi Transparent Taxation Platform Beneficiaries
The Beneficiaries of this Yojana are the honest tax payer of India. Honest tax payer of India are those tax payer who have paid the maximum income tax (without disclosing the figure), promptness in making advance tax payments and consistency in paying I-T dues.
Conditions fulfilled by the Tax Payer?
Here we are mentioning the conditions and compliance which need to be fulfilled/ followed by the tax payer of India
- Be informed and aware of tax laws and seek help from the department if needed.
- Maintain accurate records as per the income tax law.
- Have a complete knowledge about the information shared and submitted by his authorised representative.
- Comply within the time limit given under the income tax law.
- Make a payment of taxes within the timelines defined as per the income tax law.
Transparent Taxation Platform Benefits And key Highlights
PM Modi Transfer in Taxation has been initiated by Prime Minister Narendra Modi on 13 August 2020.
- Major reforms like faceless assessment, faceless appeal and transporter charter have been done through this platform.
- The Faceless Assessment and Transparent Charter will be implemented from 13 August 2020 and the judgment appeal will be implemented from 25 September 2020.
- Through this platform, the tax system will be simplified.
- The tax system will be made seamless as well as facile.
- Tax rates will also come down through PM Modi Transfer and Taxation.
- The Disputes to Faith Act 2020 has been introduced under which procedures have been laid down to deal with disputes. Disputes will be resolved through this.
- Electronic mode will be promoted through this platform.
- Due to coronavirus infection, the date of filing income tax returns has also been increased.
- The income tax slab has also been changed. Now no tax will have to be paid up to ₹ 500000.
- India is one of the lowest corporate tax collection countries in the world.
We hope you get complete details about this new taxation platform. To get more information about other Government schemes, Scholarship programs, upcoming vacancies, please visit our website regularly because we update it on daily basis.