Making a case for increasing the taxpayer base, Finance Minister Arun Jaitley has said the government's intention is to keep taxation rate “moderate“ and emphasised that tax department needs to start trusting the assessees.
He also said all grey areas are being made clearer on taxation and the tax department. “Ease of communicating with tax department is going to continue. All grey areas, unclear areas I think by virtue of clarifications and notifications are now in creasingly becoming clear,“ Jaitley said. In the last few months, procedures have been simplified and the “assessees have never seen such an easy and friendly approach of the taxation department,“ he noted.
His remarks also come against the backdrop of various initiatives being taken to ensure the tax system becomes more friendly towards taxpayers. Listing out various measures aimed at simplifying the procedures, Jaitley said dispute resolution mechanism has been put in place at the appeals stage with respect to tax matters.
Participating at a programme jointly organised by the Institute of Chartered Accountants of India (ICAI) and the finance and commerce & industry ministries on Saturday, Jaitley said tax rate would be reasonable while the tax base has to be much larger and “the tax department has to start trusting the assessee and the taxpayer“.
In a strong message to tax evaders, Jaitley said such people would face serious action as the government plugs all escape routes.
The Economic Times New Delhi, 04th July 2016
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