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While witnessing the 161st Income Tax Dayon 24th July 2021, Finance Minister Nirmala Sitharaman felicitated the Income Tax Department and said that principles of equity, justice and fairplay in tax administration permeate our tax policy even today. Read the official text of the message below: Nir
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FAQ :
The 161st Income Tax Day was observed on 24th July 2021.
Nirmala Sitharaman highlighted the principles of equity, justice, and fairplay in tax administration, noting their historical roots and continued relevance in current tax policy.
Since 2014, the government has implemented reforms such as rationalising tax rates, easing compliance obligations, reducing discretionary powers, and increasing transparency. Initiatives like Faceless Assessment, Faceless Appeals, and Faceless Penalty regimes have also been adopted.
The 'Honoring the Honest' initiative is a programme pioneered by the Income Tax Department to recognise and value honest taxpayers who contribute to the nation's progress.
During the pandemic, the Department proactively relaxed procedural requirements for taxpayers, eased compliance, and expedited the release of refunds as part of the Aatma Nirbhar Bharat initiative.
Yes, the Department achieved its tax collection target in the last fiscal year and was expected to improve its performance in the current year.
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