Voluntary Vehicle Scrapping Scheme to be implemented. Compulsory fitness test after 20 years in case of personal vehicle and 15 years for others.
7 textile parks to be established in 3 years.
Infrastructure Development – A financing authority to be introduced.
The Finance Minister Started presenting the Budget for Financial Year 2021-22..
The Complete taxt is given below:
TAXPAYERS‘ CHARTER
THE INCOME TAX DEPARTMENT
The Department shall provide prompt, courteous, and professional assistance in all dealings with the taxpayer.
The Department shall treat every taxpayer as honest unless there is a reason to believe otherwise.
The Department shall provide fair and impartial appeal and review mechanism.
The Department shall provide accurate information for fulfilling compliance obligations under the law.
The Department shall takedecision in every income tax pro ceedi ng within the time prescribed under law.
The Department shall collect only the amount due as per the law.
The Department will follow due process of law and be no more intrusive than necessary in any inquiry, examination, or enforcement action.
The Department shall not disclose any information provided by taxpayer to the department unless authorized by law.
The Department shall hold its authorities accountable for their actions.
The Department shall allow every taxpayer to choose an authorized representative of his choice.
The Department shall provide mechanism for lodging a complaint and prompt disposal thereof.
The Department shall provide a fair and impartial system and resolve the tax issues in a time-bound manner
The Department shall duly take into account the cost of compliance when administering tax legislation.
and expects taxpayers to
1. be honest and compliant
Taxpayer is expected to honestly disclose full information and fulfil his compliance obligations.
Taxpayer is expected to be aware of his compliance obligations under tax law and seek help of department if needed.
Taxpayer is expected to keep accurate records required as per law.
4. know what the representative does on his behalf
Taxpayer is expected to know what information and submissions are made by his authorised representative.
Taxpayer is expected to make submissions as per tax law in timely manner.
Taxpayer is expected to pay amount due as per law in a timely manner.
Taxpayers can approach the Taxpayers‘ Charter Cell under Principal Chief Commissioner of Income tax in each Zone for compliance to this charter. For more Information, visit http://incometaxindia.gov.io
Faceless assessment will start from today. Any assessment, other than exception, outside faceless assessment will be invalid.
Faceless appeal will also be launched on 25th September, 2020.
No intrusive and survey operations by field officers – Only investigation wing and TDS wing can after approval by the officer of the level of Commissioner or above.
Tax payers Charter introduced from today.
The platform being launched today brings in a transparent, efficient and accountable tax administration. It uses technology, Data Analytics and Artificial Intelligence – Finance Minister
Finance Minister, in her address the various reforms/steps taken by Income Tax Department like faceless assessement, simplification of forms, reduction in Corporate tax rate, Vivad Se Viswas Scheme etc.
FM virtually Launched the Platform Transparent Taxation – Honoring the Honest
Face less assessment and Tax Payers Charter is effective from today.
New arrangements, new facilities, starting today, strengthen our commitment to Minimum Government, Maximum Governance. This is a big step in the direction of reducing the interference of the government from the life of the countrymen
TDS/TCS rates (except salary) will be reduced by 25% from tomorrow till 31st March, 2021. Eg. for Professionals the tax rate u/s.194J was 10%, which will be reduced to 7.50%.
All pending refunds shall be issued immediately.
Due date of all Income Tax Returns due date extended to 30th November, 2020.
Tax Audit due date extended to 31st October, 2020.
Assessment getting barred on 30-09-2020 is extended to 31-12-2020 and assessment getting time barred on 31-03-2021 is extended to 30-09-2021.
Vivad se viswas scheme is extended till 31-12-2020 without any additional fees
