A Reward Scheme Will Be Unveiled By PM Modi For The Honest Taxpayers
The much-awaited scheme for rewarding the honest taxpayers has been unveiled by Prime Minister Narendra Modi on Thursday.
For a long time, the government has talked about various plans that range from cashback or other rewards under the GST for those who have been using digital modes of payment so that they can make purchases. But, so far, everything has failed regarding the implementation of it. Various other steps have been contemplated on the side of the GST but none of it has seen the light of the day as of now.
There have also been similar recommendations coming from the Central Board of Direct Taxes so that the taxpayers are recognized at the state and the district level and along with that they are going to help them access the services of the government quickly. Again, there has been a failure on the part revenue department and was unable to implement them for months. Suggestions have also been there so that additional benefits are offered for those who are honestly paying their taxes. But there is an unwillingness on the part of the government so that they could move in that direction and they are of the fear that it is going to result in incurring expenditure and forgoing revenue.
In the Budget, a Taxpayer’s Charter has been announced by Nirmala Sitharaman, that is going to be among the set of measures that are expected to be announced by Modi on Thursday when the platform is going to be launched to honor the honest taxpayers and great transparency will be ushered in.
According to officials, some efforts have been made so that the timelines are stipulated and taxpayers would not have to run to the various officers to seek something that belongs to them rightfully.
During the last few weeks, talks have been going on as the Central Board of Direct Taxation went on to publicize the tax assessment scheme that is faceless where it is found that the identity of the tax officers and the assesses are not known. The scheme has been launched last year. It is expected that Modi is going to take the process forward after he has himself looked at the presentations that have been made by the Central Board of Direct Taxation over the past few weeks.
In the speeches that came from Prime Minister Modi, he has also spoken about the needs so that the honest taxpayers are recognized at a time when an acute resource crunch is being battled by the government. Several ideas came up from the speech by Modi, regarding toning up the regime for direct taxes and he has been himself advocating on rewriting the law and wants further steps to be taken to ensure that more effort is made in the direction to expand the tax base that is largely confined to the transactions and salaried where tax is collected and deducted at source. The issue is flagged off at a meeting a few years ago with various tax officers.
I am Darryl Broadhurst and i give investors an insight into the most recent news hitting the “Technology” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicizes valuable information for shareholder community.
