On 13th August 2020, Our Honorable Prime Minister Shri. Narendra Modi launched the Platform for “Transparent Taxation”. One of the key feature of the event was unveiling and implementation of the “Taxpayer’s Charter” which clearly outlines the Governments’ responsibilities towards the taxpayers as well as the duties of the taxpayers. Outlined here are your key rights and duties as per the charter :-
Income Tax Department’s Commitment to taxpayers:-
- Taxpayers to be treated as honest unless there is a reason to suspect them.
- A mechanism to be provided to the taxpayers to appeal and review the Department’s Decision.
- To ensure fair, courteous and reasonable treatment is provided to the taxpayer.
- To collect only the Correct amount of taxes from the taxpayers.
- To respect the privacy of the taxpayers and maintain confidentiality
- To hold the authorities accountable and provide a mechanism to lodge complaints.
- To reduce the cost of tax compliances borne by the taxpayers.
Duties of the taxpayers’ under the Charter:-
- To be honest with the compliances by disclosing complete and correct information.
- To maintain accurate, timely and complete documentation and records.
- To respond to any query or notice issued by the department in a timely manner.
- To pay all the taxes due within the prescribed time.
- To be informed about all the tax laws, rules and compliances and the amendments made to them from time to time.
While the move aims for various reforms and easing of the current Direct Tax System, on ground implementation of it must be done to ensure the objectives of the charter are fulfilled.
Kartik M Jain & Associates, CA in Pune is a professionally managed firm serving domestic and international clients providing services relating to direct and international taxation, indirect taxation, auditing and assurance and Consultancy. It is amongst the best CA firms in Pune. With a team of expert and experienced Professionals, The firm aims to provide quality and effective services. The firm provides complete end to end solutions to your complete business needs under one roof. Our sister Firm, Payal K Jain & Associates, a Company Secretary in Pune provides services in relation to Company Formation in Pune and across India, Corporate Law and Compliance, ROC filings, FEMA, Trademark Registration, etc.
Our Services :- GST consultation, Chartered accountant, Income Tax consultancy, Corporate law, International Taxation, Transfer Pricing, Regulatory & Advisory Services.
