TIL Desk/National/New Delhi/ Prime Minister Narendra Modi will launch a platform for honouring the country’s honest taxpayers on Thursday. The 2020-21 Budget unveiled on February 1, had announced a ‘taxpayer charter’, which is expected to have statutory status and will empower citizens by ensuring time-bound services by the Income Tax department.
“The upcoming launch of the platform for ‘Transparent Taxation Honoring the Honest’ by the Prime Minister will further carry forward the journey of direct tax reforms, the Finance Ministry said in a statement on Wednesday.
The Ministry said the Central Board of Direct Taxes has carried out several major tax reforms in direct taxes in recent years. Last year the Corporate Tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units the rates were reduced to 15 per cent. Dividend distribution Tax was also abolished.
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