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Home » IANS » Budget proposals seek to boost voluntary tax compliance: CBDT

Budget proposals seek to boost voluntary tax compliance: CBDT

By IANS
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New Delhi, Feb 5 (IANS) In formulating the tax proposals of Budget 2020-21, the government has been guided by the desire to promote voluntary tax compliance, facilitate the compliant taxpayer and go after the delinquent ones, according to the Central Board of Direct Taxes (CBDT) Chairman P.C. Mody.

Addressing industry chamber Assocham’s post-budget conference on Tuesday, Mody described the Budget-proposed ‘Vivad se Vishwas’ scheme designed to provide resolutions for disputed tax cases as a “fair deal”.

“The government focused on successful implementation of the Faceless Assessment scheme in a phased manner as part of its endeavor to build trust between the tax administrations and tax payer,” he said.

“This scheme is aided by technical units with an intention to minimize and reduce any sort of personal interface between tax payer and the tax officer so that there is no question of any sort of harassment in any form,” he added.

Speaking of the ‘Vivad se Vishwas’ scheme, Mody said: “I feel this is a fair deal and I would urge people to rethink about the pending issues and come forward and avail of the scheme.”

Under the Direct Tax Vivad Se Vishwas Bill, 2020, introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha on Wednesday, taxpayers whose tax demands are locked in dispute in multiple fora can pay their taxes due by March 31, 2020, and get complete waiver of interest and penalty.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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