Experts welcome Taxpayers’ charter for regulatory certainty

0
327

The taxpayers’ charter will send the right message to the global investor community regarding regulatory certainty in India in the current scenario. As per experts the faceless tax assessment and appeals will ease the compliance burden and gave fair treatment to taxpayers. The charter will boost the government-taxpayer more reliable and it should increase the efficiency of the tax department. Experts said that it is the correct time to send the right message to the global investor community regarding regularity certainty. By stressing on effective implementation of the charter, it would help the government to publicize the charter and also create an awareness campaign.

The taxpayers charter launch by Prime Minister Narendra Modi on last Thursday and it lead to a favourable response from tax experts and taxpayers. Even though they want the government to walk the talk on implementation and not become a burden assesses with arbitrary assessment and harassment. It has been launched with the objectives of bringing transparency in operations, efficiency and accountability. It would also focus on faceless assessment and appeals, from the side of taxpayers’ charter.

According to Divya Baweja, Deloitte India partner, the income tax department is expected to be fair, effective and reasonable, and also the taxpayer to be honest and transparent. These are the steps by the government to ease compliance and make good treatment to the taxpayers.  Nangia Andersen LLP Partner Aravind Srivatsan said that the main attraction of today’s announcement by PM is the actionable step towards the introduction of taxpayers’ charter. As per in the context one after other the government is honouring its word to bringing in taxpayers’ charter, will send a right note to the global investor community to look at India market with its regulatory certainty. Experts said the push to ensure honest taxpayers have certain results to a system of transparency.

According to EY India National Tax Leader Sudhir Kapadia, the announcements show the government’s resolve to resolutely push towards digital channels for interaction with taxpayers with clear attention towards honesty and transparency. Considering the new reforms on GST and simplification and rationalization of income tax provisions, this will go a long way in ensuring ‘ease of tax compliance’ for honest and lawful taxpayers.

 The government wishes to enshrine the statutes of taxpayers’ charter through this budget. They also would like to reassure the taxpayers’ transparency by taking effective measures to avoid harassment of any kind.

LEAVE A REPLY

Please enter your comment!
Please enter your name here