What will be the reward for honest taxpayers? PM Modi will launch a new platform!

Prime Minister Narendra Modi on Thursday will begin the next phase of Direct Tax Reforms to reward taxpayers. PM Modi will launch the platform 'Transparent taxation - Honor of honest' through a video conference at 11 am today. Although nothing has been said about tax reforms by the government, the reforms on the direct tax front are expected to be carried forward in the last six years with the introduction of the platform.

A system to encourage honest taxpayers will start in the country before August 15 through this platform. On Thursday, all the Principal Chief Commissioners and Chief Commissioners of Income Tax will join the country through video conferencing with the Prime Minister. Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Thakur will also be present on this occasion. Significantly, the Central Board of Direct Taxes has introduced several tax reforms in recent years. Corporate tax has been reduced from 30% to 22% and for new manufacturing units, it has been reduced to 15%.

In the last 3-4 weeks, the Prime Minister's Office has been discussed in several rounds of meetings with the tax authorities of the country about faceless assessment and transparency, etc. Finance Minister Nirmala Sitharaman recently said that faceless assessment and other steps will reduce the taxpayers' troubles and simplify the tax system.