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Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and reduced litigation at the 167th Income Tax celebrations in New Delhi today The Union Finance Minister reiterates fair, efficient, transparent and taxp
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FAQ :
FM Sitharaman's main focus was on the evolution of the Income Tax Department towards fair, efficient, transparent, and taxpayer-centric administration, with a call for greater tax certainty and reduced litigation.
The Income-tax Act, 2025, is considered a landmark reform that simplifies tax law, reduces compliance costs, and strengthens the ease of doing business.
The 5Rs of Responsive Tax Governance are Recognise, Respond, Redress, Reflect, and Reform, serving as guiding principles for taxpayer service.
The CBDT Chairman highlighted technology-led initiatives such as PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi, and the SAKSHAM NUDGE framework to simplify compliance and improve taxpayer experience.
The Finance Minister released six publications, including reports on international taxation, exchange of information, FATCA & CRS, crypto asset reporting, the APA Programme, and the department's digital transformation.
The FM urged for greater capacity building in emerging areas such as artificial intelligence, data analytics, forensic accounting, international taxation, transfer pricing, digital assets, cybersecurity, and leadership development.
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