|
Aparna Karan, Principal Chief Commissioner of Income Tax, on Friday attended an outreach programme on 'Compliance Under the Income Tax Act and Taxpayers' Services' at the ONGC Auditorium, organised by the Principal Commissioner of Income Tax Office, Dehradun.
While speaking to ANI after the programme, Karan stated that the aim of the outreach program is to raise awareness about the third instalment of advanced tax and various concerning issues around TDS, which floats around the common people's domain. "The main agenda of today's outreach was to raise awareness about the third instalment of advance tax and different issues concerning TDS, like wrongful deduction, foreign assets and foreign source income..." she said. She further stated that such outreach programs, along with public interaction and promotions through social media and print media, are being done to increase compliance among people towards their income tax responsibility. "The Income Tax Department has been organising various outreach programs to increase the compliance of the general public towards income tax...We are interacting with individuals and promoting through social media and print media to ensure people stay informed," she added. Meanwhile, the new Income Tax Act is expected to expand India's tax base by making compliance simpler and more accessible for individuals, institutions and exempt entities, Debjyoti Das, Principal Chief Commissioner of Income Tax (Exemption), told ANI on November 25. "As far as exemptions are concerned, even though revenue is foregone when it comes to exemptions, what I do understand is that it is easier for many tax regimes to become part of this process so that they can file the return easily," he said. Income Tax Act, 2025, to be effective from April 1, 2026. The Act simplifies language, removes obsolete provisions and consolidates and restructures provisions. It introduces the concept of 'Tax Year', replacing 'Assessment Year' and 'Previous Year'. To modernise and simplify India's outdated tax laws, the government announced a comprehensive review of the Income-tax Act, 1961. This led to the introduction of the Income-tax Bill, 2025, which was referred to a Select Committee of Parliament for detailed examination. This updated Bill incorporated most of the committee's inputs, along with improvements in legal clarity and drafting. It was passed by both Houses of Parliament in the monsoon session and now forms the foundation of India's new tax framework. (ANI)
|
