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India has Moved from Tax-Terrorism to Tax-Transparency: Prime Minister Stress on dignity of honest taxpayer is the biggest reform Inaugurates Office-cum-Residential Complex of Cuttack Bench of Income Tax Appellate Tribunal Prime Minister Shri Narendra Modi inaugurated Office-cum-Residential Complex of Cuttack Bench of Income Tax Appellate Tribunal through video conference today. Speaking on the occasion, the Prime Minister said this bench would now provide modern facilities not only to
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FAQ :
Prime Minister Modi has stated that GST has reduced the tax net and that the tax rate on most goods and services has also come down.
The Prime Minister highlighted that the country is moving from 'Tax Terrorism' to 'Tax Transparency'.
The government is building trust by reducing difficulties for wealth creators, protecting them, and accepting 99.75 percent of filed income tax returns without objection.
Tax transparency is demonstrated through taxpayers receiving refunds within weeks, age-old disputes being resolved, the introduction of faceless appeals, and continuously decreasing income tax.
There has been a historic cut in corporate tax to make India more investment-friendly, with the tax rate for new domestic manufacturing companies set at 15 percent.
Ease of doing business has improved by reducing the burden of disputes through increasing the limit of appeal from Rs 3 lakh to Rs 50 lakh in ITAT and to Rs 2 crore in the Supreme Court.
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