Union Budget 2021: Govt focusses on easing pain points for t

Union Budget 2021: Govt focusses on easing pain points for taxpayers in coming fiscal year


Union Budget 2021: Govt focusses on easing pain points for taxpayers in coming fiscal year
In order to make taxation processes faceless, the National Faceless Income Tax Appellate Tribunal Centre shall be established with the facility of personal hearing through videoconferencing.
Kapil Rana
February 03, 2021 13:36:35 IST
Govt need to ease tax burden. Scott Graham/Unsplash
To make governance simple for taxpayers and for the Income Tax Department, the government had introduced a series of direct tax reforms providing benefit to taxpayers with an aim to boost the economy by increasing tax collection. In course of these reforms, corporate tax rates have been slashed significantly and the Dividend Distribution Tax too was abolished. Further, to eliminate the burden of taxation on small taxpayers’, the government had increased the rebates to lower the tax liabilities. Due to these efforts and reforms in 2020, we have witnessed a sharp increase in the return filers from 3.31 crores in 2014 to 6.48 crore.

Related Keywords

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