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Over the years, the income tax department has carried out several major reforms, including a reduction in the corporate tax. The ‘Transparent Taxation – Honoring The Honest’ platform will further benefit the taxpayers.

Prime Minister Narendra Modi will launch a platform that will honor the honest taxpayers of the country. The unveiling will take place at 11 am today via video conferencing.

The “Transparent Taxation – Honoring The Honest” stage will start significant expense changes planned for getting straightforward personal duty frameworks and engaging citizens, as indicated by the administration.

“At 11 AM on Thursday, thirteenth August, the stage for “Transparent Taxation – Honoring the Honest” would be propelled. This adds solidarity to our endeavors of transforming and streamlining our expense framework. It will profit a few legit citizens, whose difficult work powers national advancement,” PM Modi declared on Twitter.

This will be another progression that will make the lives of the citizens simpler. Throughout the years, the personal expense division has completed a few significant changes, remembering a decrease in corporate duty. The office had likewise canceled the profit charge.

It has additionally been focussing on the improvement of direct expense laws and expanding straightforwardness in correspondence. A significant advance in such manner was the presentation of Document Identification Number (DIN) wherein each correspondence of the office would convey a PC produced one of a kind document identification number.

Likewise, to expand the simplicity of consistence for citizens, the IT division has pushed ahead with the prefilling of annual expense forms to make consistence more advantageous for singular citizens. Consistence standards for new businesses have likewise been streamlined.

The Direct Tax Vivad se Vishwas Act, 2020, was likewise acquainted with settle charge questions.

Further, the Income Tax Division has embraced a few measures to advance computerized exchanges and electronic methods of installment. The division is resolved to take the activities forward and has additionally put forth attempts to ease compliances for citizens during Covid-19 time by broadening legal idealness for documenting returns as likewise delivering discounts quickly to expand liquidity in the possession of citizens.