Prime Minister Narendra Modi today launched the 'Transparent Taxation: Honoring the Honor' platform. During this, PM Modi said that the honest taxpayer of the country plays a huge role in nation-building. When the life of honest taxpayers of the country becomes easy, it moves forward, then the country also develops, the country also moves forward.
PM Modi said, 'There was a need for fundamental and structural reforms in India's tax system because our system of today was built in the period of slavery and then it has developed slowly. After independence, a lot of changes were made here and there, but most of the system remained the same.
Finance Minister Nirmala Sitharaman said that the PM's mission is to award honest taxpayers. This will bring transparency in things. There will be coordination between Income Tax Department and Taxpayers. Last year, the corporate tax was increased from 30 to 20 percent. The Income Tax Department has implemented several tax reforms. PM's desire to give respect to taxpayers.
Modi said, 'Reform for us means, Reform should be policy based, not in pieces, be Hollistic and one Reform, be the basis of another Reform, make way for new Reform and it is not that once Reform is stopped went. It is a continuous, continuous process. \ PM Narendra Modi said, 'Compliance is also difficult where there is complexity. At least the law, whatever the law is, is very clear, then the taxpayer is happy and the country too. This work has been done for some time. Like now, GST has come in place of dozens of taxes,