Income Tax Payers to Be Rewarded Soon! Government Plans an Ambitious Policy to ‘Facilitate’ Honest, Consistent Taxpayers
Reports inform that a committee under the Central Board of Direct Taxes (CDBT) is working on a plan to decide parameters to reward benefits to taxpayers who pay their taxes on time and in full.
New Delhi, October 14: Taxpayers who have been diligently paying taxes and filing their income tax returns on time will soon be rewarded for their consistent efforts. The government is mulling over a proposal to "facilitate" honest and consistent taxpayers in availing a variety of public services and tax-related works on priority. Reports inform that a committee under the Central Board of Direct Taxes (CDBT) is working on a plan to decide parameters to reward benefits to taxpayers who pay their taxes on time and in full. ‘Due Date’ for Filing of Income Tax Returns & Reports of Audit Extended From 15 October 2018 to 31 October 2018.
The CBDT is the policy-making body for the Income Tax Department (ITD). The latest move by the government is proposed so that honest taxpayers are empowered to get "priority service" while using public services at airports, railways stations and at tolls on highways. Income Tax Department of India Issues Notices to 9000 People in Noida.
According to a report by PTI, the proposal will be vetted by the Finance Ministry and sent for final approval to the Prime Minister’s Office (PMO) before it is cleared by the Union cabinet. The report further informs that a cabinet note to enhance the output of the Central Processing Centre (CPC) of the department in Bengaluru has already been prepared and sent.5 easy steps to submit your ITR.
It is proposed that taxpayers who have been consistently paying their taxes or even just filing their returns can be hosted at civic receptions held by prominent government functionaries and are honoured publicly. Income Tax Return Filing Sees 71 Per Cent Increase, 5.42 Crore ITRs Submitted Till August 31.
There are about 8 crore income taxpayers in the country at present and the CBDT has instructed the taxman to add 1.25 crore to this tally by the end of the current financial year in March next year. In 2017, Prime Minister Narendra Modi, during a conference with senior tax officers had urged the department to enhance taxpayer services and ensure that honest taxpayers are given due importance.
A few years back, the CBDT had begun a process by which honest taxpayers were sent a 'thank you' or appreciation note over email under the name of the CBDT Chairman. The CBDT is already working to usher in a mega plan where a taxpayer can be assessed electronically in any part of the country, as part of its measures to reduce complaints of harassment and corruption in rendering these services.
(The above story first appeared on LatestLY on Oct 14, 2018 10:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).