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Finance Minister Smt. Nirmala Sitharaman lauds IT Department for being responsive to people as CBDT observes 160th Income Tax day towards Nation Building The Central Board of Direct Taxes (CBDT) and all its field offices across India today observed the 160thanniversary of Income Tax Day. In her message on the 160thIncome Tax Day, Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman appreciated the continuous efforts of the Income-Tax Department towards making the tax admin
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FAQ :
The 160th anniversary of Income Tax Day is being observed by the Central Board of Direct Taxes (CBDT) and its field offices.
She appreciated the department's efforts to be taxpayer-friendly, transparent, and facilitate voluntary compliance, noting its shift to a citizen-centric role.
Reforms mentioned include a new, simpler tax regime, reduced corporate tax rates, and concessional rates for domestic manufacturing companies.
The department was responsive to taxpayer needs by relaxing compliance requirements and addressing liquidity concerns.
He praised the department's efficient taxpayer services, promotion of e-governance, dispute resolution through the Vivad Se Vishwas Act, and pandemic support.
Initiatives like faceless assessment, improved form 26AS, and pre-filled returns were mentioned as ways to enhance transparency and reduce discretionary powers.
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