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Union Finance Minister Smt. Nirmala Sitharaman presides over the 165th Income Tax Day celebrations at Delhi Union Finance Minister releases 'My Stamp' on the occasion of 165th Income Tax Day Increase in tax collections indicates India is getting more formalised as an economy: Union Finance Minister Smt. Nirmala Sitharaman Shri Chaudhary lauds CBDT's efforts to make compliance easy for taxpayers by introducing faceless regime, e-verification, and seamless e-filing CBDT's focus on use of techn
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She urged that tax notices should be fair, temperate, simple, and easy for taxpayers to understand.
She laid emphasis on the speedy issue of refunds to encourage voluntary compliance.
She emphasised capacity building, particularly in adopting global best practices in tax administration.
It indicates that India is becoming a more formalised economy, with more people coming forward to voluntarily pay taxes.
The faceless regime, e-verification, and seamless e-filing were highlighted as efforts to make compliance easier for taxpayers.
There were 58.57 lakh first-time ITR filers for AY 2024-25, indicating a widening tax base.
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