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<ul><li>Tax assessment and appeals will now be ‘faceless’ in India. </li><li>This means that the identity of the taxpayer and of the tax officer should have no bearing on issues of tax scrutiny.</li><li><keyword id="7833328" type="UNKNOWN" weightage="20" keywordseo="faceless-assessment">Faceless assessment</keyword> will be rolled out starting today and faceless appeals will be active starting September 25.</li></ul>Prime Minister Modi has pushed for reforms with a new tax charter that aims to reward honest taxpayers, improve transparency and efficiency in the bureaucracy. The new platfom has three parts to it — faceless assessment, <keyword id="9749860" type="UNKNOWN" weightage="20" keywordseo="faceless-appeal">faceless appeal</keyword> and the taxpayer charter. Faceless assessment and the taxpayer charter will be live starting today. The system for faceless appeal will roll out on September 25. The integration of ‘faceless’ tax scrutiny will make many existing taxpayer-tax officer relationships long distance. Until now, if you were issued a notice or wanted to address an issue in your tax returns, you would have to go to your local tax office. In some cases, the tax office and the tax payers have locked horns often enough to have a relationship between them, which can be both good and bad, but does influence the narrative on cases. However, India’s new taxation platform will abolish the geographical boundaries within India. “With the help of technology, matters of scrutiny can now be looked at by a tax officer anywhere in India, in any city and at any branch,” said India’s Prime Minister Narendra Modi during the launch. According to Modi, the objective of making the process faceless is that the identity of the taxpayer and the tax officer should have no bearing on the outcome of any case. How does a ‘faceless’ tax system work? Any concerns with respect to tax will be assigned on a random basis. An appeal by a taxpayer in Mumbai will no longer end up with a tax officer in Mumbai. Instead, the case could end up anywhere from Ranchi to Guwahati. Once the first tax officer has passed his verdict, the file will randomly be assigned once again to another officer to review the assessment. Not only will all the movement be random, but the randomisation process will also be altered from time to time. “This eliminates the possibility for there to be a relationship between a tax officer and a taxpayer as well as the opportunity for there to be pressure or bribery of any kind will come down to zero,” said Modi. According to Modi, in addition to reducing corruption, making the taxation scrutiny faceless also means fewer cases ending up in court. Interference in officers getting transferred should also subside. What is tax scrutiny? Tax scrutiny is when the Income Tax department suspects that there may be an issue of non-compliance with a certain account. To begin with, the taxpayer will receive a notice issued by the department. They will have a certain number of days to file a reply, thereafter the assessing officer will conduct further inquiries as deemed necessary. Common reasons for tax scrutiny include when someone fails to file a tax return, a sudden increase or decrease in income, high-value transactions, any mismatches between less and TDS. Tax scrutiny does not mean that a person is not tax compliant. It just means that the income tax department needs more information in order to determine that everything is by the book. SEE ALSO: <a href="https://www.businessinsider.in/india/news/prime-minister-narendra-modi-speech-highlights-on-indias-new-tax/articleshow/77518678.cms">India’s ‘Transparent Taxation’ charter — Highlights of Prime Minister Narendra Modi’s speech</a>

India's new tax charter promises 'faceless' scrutiny — Here's what that means

The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of <keyword id="9884180" type="UNKNOWN" weightage="20" keywordseo="faceless-income-tax-appeals">faceless income tax appeals</keyword>. Under faceless appeals, all income tax appeals will be finalised online under the <keyword id="10000490" type="UNKNOWN" weightage="20" keywordseo="faceless-ecosystem">faceless ecosystem</keyword> with the exception of appeals relating to serious frauds, major tax evasion, sensitive and search matters along with international tax and the Black Money Act. On August 13, while launching the Faceless Assessment and Taxpayers' Charter as part of "Transparent Taxation - Honoring the Honest" platform, Prime Minister Narendra Modi announced the launching of 'Faceless Appeals' on September 25. "From now on in income tax appeals, everything from e-allocation of appeal, e-communication of notice/questionnaire, e-verification/e-enquiry to e-hearing and finally, e-communication of the appellate order, the entire process of appeals will be online, dispensing with the need for any physical interface between the appellant and the department," said the statement. There will be no physical interface between the taxpayers or their counsel/s and <keyword id="2236838" type="COMPANY" weightage="20" keywordseo="The-Income-Tax-department">the Income Tax Department</keyword>, it said, adding that the taxpayers can make submissions from the comfort of their home and save their time and resources. According to the CBDT, the faceless appeal system will include allocation of cases through data analytics and artificial intelligence under the dynamic jurisdiction with central issuance of notices which would be having <keyword id="404284" type="COMPANY" weightage="20" keywordseo="Document-Identification-Number">Document Identification Number</keyword> (DIN). As part of dynamic jurisdiction, the draft appellate order will be prepared in one city and will be reviewed in some other city resulting in an objective, fair and just order. As per the CBDT, the faceless appeal will provide not only great convenience to the taxpayers but also it will ensure that it will ensure just and fair appeal orders and minimise any further litigations. The new system will also be instrumental in imparting greater efficiency, transparency and accountability in the functioning of the Income Tax Department, it said. As on date, there is a pendency of almost 4.6 lakh appeals at the level of the Commissioner (Appeals) in the Department. Out of this, about 4.05 lakh appeals, or about 88 per cent of the total appeals, will be handled under the faceless appeal mechanism and almost 85 per cent of the present strength of Commissioners (Appeals) shall be utilised for disposing off the cases under the faceless appeal mechanism. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-list-of-global-auto-companies-exiting-india-in-last-five-years-including-harley-davidson-fiat-and-general-motors/slidelist/78315633.cms" data-type="tilCustomLink">Harley Davidson is the latest to join the list of global auto companies exiting India in last five years — Here’s a closer look</a> <a href="https://www.businessinsider.in/india/news/pictures-of-farmers-protests-across-india-against-the-countrys-new-agricultural-bills-2020/slidelist/78316310.cms" data-type="tilCustomLink">IN PICS: Farmer protests erupt across India against the country’s new agricultural bills</a>

Income Tax Department introduces faceless income tax appeals, says it will ensure just and fair appeal orders

<ul><li>Prime Minister Modi launches a <keyword id="9749096" type="UNKNOWN" weightage="20" keywordseo="new-taxation-platform">new taxation platform</keyword> dubbed “Transparent taxation— Honoring the honest.”</li><li>This will be another reform in the exercise of simplifying direct tax. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s new tax charter promised to reduce government interference, bureaucratic discretion, increase the trust in the taxpayer and reward honest taxpayers. “Every law, rule and regulation needs to be changed from being process and power centric approach to being people-centric and public friendly,” Modi said in his address. He went on to say that attempts are being made to make the process “painless, seamless, and faceless”, adding thrust on improving ease of doing business in the country. “India is now one of the very few countries that vests so much respect and protection on taxpayers,” Modi said. However, this will come with the responsibility to become a taxpayer. Of the over 130 crore people in the country, less than 1.5 crore pay <keyword id="6354751" type="UNKNOWN" weightage="20" keywordseo="income-tax">income tax</keyword>, the Indian Prime Minister highlighted. <div type="Youtube" id="jj8N3i7GdCQ" title="PM Modi launches platform for “Transparent Taxation – Honoring the Honest”" thumbUrl="https://i.ytimg.com/vi/jj8N3i7GdCQ/mqdefault_live.jpg"></div> These are the key highlights of Modi’s speech on Aug 13: <ul><li>The tax department has to be cognizant of the taxpayer’s dignity. </li><li>Faceless assessment and taxpayer charter are applicable starting today. </li><li>Tax scrutiny can be assigned to any officer in any city in India to ensure that it doesn’t matter who the taxpayer is or who the assessor is. “The possibility of familiarity or influence will now be zero,” Modi said. </li><li>Even appeals will become ‘faceless’ starting September 25.</li><li>Policy driven governance that will minimise grey areas and reduce the need for discretion.</li><li>Applying technology to reduce the taxpayer's interface with officials.</li><li>The number of tax scrutinies has come down to a fourth in the last 8 years.</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-icici-bank-axis-kotak-and-others-have-plans-to-raise-14-billion-but-if-things-go-haywire-they-could-need-three-times-more/articleshow/77506879.cms" data-type="tilCustomLink">SBI, ICICI Bank, Axis, Kotak and others have plans to raise $14 billion — but if things go haywire, they could need three-times more</a> <a href="https://www.businessinsider.in/stock-market/news/stock-market-updates-on-tcs-share-price-hcl-share-price-wipro-share-price-ashok-leyland-share-price-indigo-share-price-and-more/articleshow/77518007.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today — TCS, HCL, Wipro, Ashok Leyland, IndiGo and more</a>

India’s ‘Transparent Taxation’ charter —  Highlights of Prime Minister Narendra Modi’s speech

New Delhi, Jan 7 () Finance Minister Nirmala Sitharaman on Tuesday said the government is taking various steps to simplify taxation system and eliminate harassment of honest taxpayers.
Addressing an event organised by Confederation of All India Traders (CAIT), the finance minister said the government is open to suggestions for the betterment of GST filing system.
Based on suggestions received from various stakeholders, the government is taking steps towards simplification of taxation system, she added.
In a bid to curb harassment of taxpayers, she said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
The tax department has implemented a computer-generated document identification number (DIN) to ensure greater transparency and accountability in tax administration.
The DIN system, which became operative from 1 October 2019, will apply to all kind of communications from the income tax department, whether it is related to assessment, appeals, investigation, penalty and rectification, among others.
This development will also help taxpayers to detect fake notices and letters as the notice would be verifiable on the department's e-filing portal.
Besides, the finance minister said, such cases have to be closed within 30 days.
She also said that there would be shopping festival held across the country soon.
In a bid to boost trade, Sitharaman had in September last year announced Dubai-like mega shopping festivals in India, starting March 2020.
The commerce ministry is working on this and it will provide a big platform for traders to sell their goods.
The government is expected to hold these festivals in four Indian cities, and the move is likely to boost textiles, leather industry &amp; promote yoga tourism. 
The government is planning various themes for these festivals, ranging from gems and jewellery, textiles and leather to yoga. DP BAL

Govt taking steps to simplify taxation; curb harassment of honest taxpayers: FM

Ahead of the annual budget presentation, an India-centric top US strategic and business advocacy group has urged Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> to simplify and rationalise direct and indirect taxation system in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, a move it believes would increase the confidence of global investors and yield greater foreign direct investment. Direct taxes can be in the form of income tax, capital gains tax or securities transaction tax, while indirect taxes such as GST, Customs Duty or VAT are levied on all end-consumers to buy any goods or services. "Rationalise corporate tax rates for foreign companies," said the US-India Strategic and Partnership Forum (<keyword id="4839889" type="General" weightage="80" keywordseo="usispf" source="Orion">USISPF</keyword>) in its submission to the finance ministry ahead of the annual budget presentations on February 1. It said that the rate for foreign companies, including banks be reduced to bring parity and sought to rationalise tax for new manufacturing companies. <keyword id="16275339" type="General" weightage="50" keywordseo="urging-india" source="Orion">Urging India</keyword> to simplify capital gain tax reforms, USISPF sought harmonising holding periods and rates of different instruments. "Reiterate India's commitment to the global tax deal," it said and urged the Union Finance Minister to extend the concessional tax regime to Foreign Portfolio Investment (FPI) from investment in securities. USISPF has also suggested tax incentives to specific sectors like renewable energy and R&amp;D investment in the health sector. Among the Forum's recommendations include advocating for a stable and predictable tax environment, improving the ease of doing business environment, rationalisation of the cost of doing business, and rationalisation of tax rates and tariffs. On indirect taxes, the USISPF sought clarification on customs duty exemptions provided to oil and natural gas companies, reduction in customs duty rates for x-ray machines from 10 per cent to 7.5 per cent and providing customs duty exemption on all items imported by specified research and development units. USISPF urged the finance minister to roll back the customs duty increase on nutritional products considering the importance and significance of the product and encourage the availability of scientifically designed nutritional food in India. Among its recommendations on customs tariffs and duties and customs, processes include addressing ambiguities in the customs tariff act on telecom products, an extension of concessional customs duty to advanced biofuel projects and strengthening the process on the ground with respect to trade facilitation schemes like CAROTAR and Faceless Assessment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-companies-lose-3-22-lakh-crore-in-market-value-amidst-tussle-with-hindenburg-research/articleshow/97374612.cms">Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-20000-crore-fpo-now-open-analysts-maintain-cautious-optimism/articleshow/97369358.cms">Adani Enterprises’ ₹20,000 crore FPO now open, analysts maintain cautious optimism</a> <a href="https://www.businessinsider.in/business/corporates/news/tata-motors-in-top-gear-reports-net-profit-of-2958-crore-in-q3-its-first-after-seven-quarters/articleshow/97319081.cms">Tata Motors In Top Gear: Reports net profit of ₹2,958 crore in Q3, its first after seven quarters</a>

US industry urges FM to rationalise, simplify direct and indirect taxes in India

<ul><li>Prime Minister Narendra Modi launched India’s new taxpayers’ charter today. </li><li>The charter promises 14 commitments from the <keyword id="6354751" type="UNKNOWN" weightage="20" keywordseo="income-tax">Income Tax</keyword> (IT) department to taxpayers, and six obligations that the taxpayer has towards the government. </li><li>Modi said the charter is aimed at fostering an environment of trust, where the IT department can’t look at a case with suspicion without any evidence to back it up. </li></ul>Prime Minister Narendra Modi launched India’s new taxpayer charter today with the hopes that more than just 1.5 crore out of India’s booming population of 130 crore will pay tax. The charter includes 14 regulations that the Income Tax (IT) department has to follow with respect to taxpayers and six obligations that the taxpayer has towards the government. <div type="Article" hostid="261" msid="77518678" title="India’s ‘Transparent Taxation’ charter — Highlights of Prime Minister Narendra Modi’s speech" mstype="2" mssubtype="0"></div> “The tax department is not allowed to look at tax filings as suspicious without any evidence to support their doubts,” said Modi during the launch stating that that charter will be applicable starting today. The aim is to make the entire process of taxation, “painless, seamless and faceless,” for the country. “Policy-driven governance will minimise grey areas and reduce the need for discretion,” Modi added. According to him, the charter will bring efficiency, integrity and sensitivity into the government machinery. <div type="Article" hostid="261" msid="77518551" title="India's new tax charter promises 'faceless' scrutiny — Here's what that means" mstype="2" mssubtype="0"></div> The government’s commitment to taxpayers are: <ol><li>To provide fair, courteous and reasonable treatment </li><li>Treat the taxpayer as honest </li><li>To prove a mechanism for appeal and review </li><li>To provide complete and accurate information </li><li>To provide timely decisions </li><li>To collect the correct amount of tax </li><li>To respect the privacy of taxpayers </li><li>To maintain confidentiality </li><li>To hold its authorities accountable </li><li>To enable representative of choice </li><li>To provide a mechanism to lodge a complaint </li><li>To provide a fair and just system </li><li>To publish service standard report periodically </li><li>To reduce the cost of compliance </li></ol><div type="twitter" handle="FinMinIndia" handlename="Ministry of Finance" image="http://pbs.twimg.com/profile_images/1135488202616102914/DkD8hlzI_normal.png" favoritecount="200" retweetcount="100" status="Taxpayers’ Charter unveiled! Demonstrating the commitment of IT Department towards improving taxpayer services and… https://t.co/5r3xAHbrw4" createdat="1597300312000" id="1293797400490868737"></div> According to Modi, paying tax and collecting tax is not an issue of rights but an aspect of responsibility. “Even if there is an issue, the taxpayer now has the right to appeal the scrutiny filed by the income tax department,” he said. Your obligation as a taxpayer to the government are: <ol><li>Be honest and compliant </li><li>Be informed </li><li>Keep accurate records </li><li>Know what your representation does on your behalf </li><li>Respond in time </li><li>Pay in time</li></ol>“These steps will not only enhance transparency but also move further in a predictable tax regime,” said Kedar Patki, the CFO of IndiaFirst Life Insurance. According to Modi, the charter is a step towards making the taxation process seamless. That is, the tax administration should not confuse the taxpayer but should instead focus on solving cases in the most straightforward way possible. India’s new tax charter also brings along a new reform, the ‘faceless’ assessment, and appeal. This means that the identity of the taxpayer and the tax officer should have no bearing on the outcome of an income tax case. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/what-is-new-taxpayer-charter-and-faceless-scrutiny-in-tax/articleshow/77518551.cms">India's new tax charter promises 'faceless' scrutiny — Here's what that means</a> <a href="https://www.businessinsider.in/india/news/prime-minister-narendra-modi-speech-highlights-on-indias-new-tax/articleshow/77518678.cms">India’s ‘Transparent Taxation’ charter — Highlights of Prime Minister Narendra Modi’s speech</a>

Taxpayers’ Charter — What the Income Tax department expects from you and what it promises in return

By Deepa Bakhru and Smriti Gangwal The pace of <keyword id="168300" type="General" weightage="20" keywordseo="digitalisation" source="Orion">digitalisation</keyword> in business activities in India has been a testimony to the tremendous potential of digital transformation. Moreover, with the outbreak of <keyword id="8763838" type="General" weightage="20" keywordseo="COVID-19" source="Orion">COVID-19</keyword>, most business operations moved online, accelerating a digital transformation that has been underway for decades. Today, technology is commonly interwoven into every business function. Companies globally, including in India, are increasing investments on data management and standardisation, <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">artificial intelligence</keyword> and shifting of applications and infrastructure to the cloud. Moreover, the Indian government is also increasingly putting digital strategies at the centre of its policy <a href="https://www.gartner.com/en/newsroom/press-releases/2021-08-19-gartner-india-govt-it-spending-forecast-2022">agendas</a>. There has been a paradigm shift in the mechanism of <keyword id="936384" type="General" weightage="20" keywordseo="filing-tax-returns" source="Orion">filing tax returns</keyword> from manual to e-filing, introduction of GST, faceless assessment and appeal, etc. Also, the Income-tax department has revamped the income tax portal to provide several new features for ease of compliance. The tech industry is eyeing the forthcoming Budget in order to get clarifications on digital taxation to resolve ambiguities in various laws around it. Some of the key expectations of the tech industry from the upcoming <keyword id="10547300" type="General" weightage="20" keywordseo="Budget-2022" source="Orion">Budget 2022</keyword>, are enumerated as under: <ul><li>Presently, there is an ambiguity in relation to the scope of equalisation levy (EQL)provisions, for instance, digital/electronic facilities could be held to cover any communication by way of emails or calls or any other means using the internet. Further, Indian tax treaties do not support the claim of credit of EQL in case of non-residents, in its home country. Therefore, the government needs to provide clarity in terms of scope of EQL and introduce a mechanism for claiming credit of EQL paid by non-residents in the home country. Additionally, a mechanism needs to be introduced for claiming refund/adjustment of excess EQL deposited by the e-commerce operator.</li></ul><ul><li><keyword id="6704918" type="General" weightage="20" keywordseo="Significant-Economic-Presence" source="Orion">Significant Economic Presence</keyword> (SEP) has significantly widened the scope of the term ‘business connection’ with the thresholdsbeing prescribed. Though SEP was introduced to tax digital transactions, based on the wordings of the provisions, it may include physical transactions in its ambit. Further, considering the broad coverage of SEP and EQL, there is an overlap of the transactions covered under both regimes. There could also be tax deducted at source (TDS) impact in case the same is being considered as royalty or fees for technical services (FTS), in case of non-resident taxpayers. The government needs to clarify on the coverage of SEP along with the interplay between SEP, EQL and TDS provisions. Further, clear profit attribution rules also need to be introduced.</li></ul><ul><li>Likewise, clarity is also required on the applicability of EQL/TDS provisions on cloud-based transactions which is currently uncertain due to the contrary positions adopted by taxpayers and tax authorities.</li></ul><ul><li>Relevant amendments are required to be made in the Act to provide clarity on final <a href="https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.pdf">Pillar </a>provisions including the consequent abolishment of SEP and EQL.</li></ul><ul><li>Recently, there has been an increase in data centre activities being undertaken by captive units in India and with the introduction of data localisation regulations, there has been a surge in the number of data centres being set up in India. Tax authorities have been considering such operations as activities constituting PE for non-residents. Clarifications need to be provided to put an end to the prolonged litigation.</li></ul><ul><li>The tech industry incurs heavy advertising, marketing and promotion (AMP) expenditure for promoting their products which are being considered as capital in nature, leading to additions including transfer pricing adjustments. Clarifications in the tax treatment of AMP expenses is required around the said issue. </li></ul>Additionally, taxpayers also seek the following policy interventions: <ul><li>Refund of input tax credit on capital goods should be permitted; </li><li>Mix of panel members (including independent members) in dispute resolution panel (DRP)should be introduced for better evaluation of merits of each case; and </li><li>Time limits for conclusion of appeals by Commissioner of Income (Appeals) [CIT(A)] and Income Tax Appellate Tribunal (ITAT) should be prescribed.</li></ul><cmsannotation type="cmsannotation" annotationid="Conclusion" comment="subhead" text="Conclusion">Conclusion</cmsannotation> India’s tax regime is being geared up to cover newer tech business models. However, the overlapping of certain provisions and lack of clarity leads to interpretational, administrative and operational challenges to taxpayers. Accordingly, taxpayers are looking forward to clarifications to resolve such ambiguities. Deepa Bakhru is Senior Manager and Smriti Gangwal is Manager with Deloitte Haskins and Sells LLP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/opinion-tax-consolidation-schemes-need-of-the-hour-for-indias-renewable-energy-sector/articleshow/89118730.cms">OPINION: Tax consolidation schemes is the need of the hour for India’s renewable energy sector</a>

OPINION: These tech issues need clarity and amendments

New Delhi, Feb 1 () Finance Minister Nirmala Sitharaman on Saturday proposed reduction of tax on cooperative societies to 22 per cent plus surcharge and cess, from 30 per cent at present.
 Presenting the Budget for 2020-21, Sitharaman also announced extending by one year the date of approval of affordable housing projects for availing tax holiday on profit earned by developers.
 She also announced extension of additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021.
 Sitharaman further said the Income Tax Act will be amended to allow faceless appeals against tax orders on lines of faceless assessment.
 She also proposed a scheme -- 'Vivad se Vishwas' -- to bring down litigation in direct taxation scheme saying 4.83 lakh direct cases are pending in various appellate forums.
 In order to ease allotment of PAN, new process of instantly allotting the same through Aadhaar will be brought, Sitharaman added.
 Direct taxes are the lowest, simplest and smoothest, the finance minister said. TEAM MBI RKL ANZ RKL ANU
ANU

Govt proposes cut in tax on cooperative societies to 22 pc

<ul><li>Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> will launch a platform for honouring the country's <keyword id="3460856" type="PERSON" weightage="20" keywordseo="honest-taxpayers">honest taxpayers</keyword> on Thursday. </li><li>The 2020-21 Budget unveiled on February 1, had announced a '<keyword id="8739443" type="UNKNOWN" weightage="20" keywordseo="Taxpayer-charter">taxpayer charter</keyword>', which is expected to have statutory status and will empower citizens by ensuring time-bound services by the Income Tax department. </li><li>The Ministry said the Central Board of Direct Taxes (<keyword id="128665" type="COMPANY" weightage="20" keywordseo="CBDT">CBDT</keyword>) has carried out several major tax reforms in direct taxes in recent years. </li></ul> Prime Minister Narendra Modi will launch a platform for honouring the country's honest taxpayers on Thursday. The 2020-21 Budget unveiled on February 1, had announced a 'taxpayer charter', which is expected to have statutory status and will empower citizens by ensuring time-bound services by the Income Tax department. "The upcoming launch of the platform for 'Transparent Taxation - Honoring the Honest' by the Prime Minister will further carry forward the journey of direct tax reforms," <keyword id="1549446" type="COMPANY" weightage="20" keywordseo="The-Finance-Ministry">the Finance Ministry</keyword> said in a statement on Wednesday. The Ministry said the Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in recent years. Last year the Corporate Tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units the rates were reduced to 15 per cent. Dividend distribution Tax was also abolished. "The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of <keyword id="9289300" type="COMPANY" weightage="20" keywordseo="the-i-t-department">the I-T Department</keyword>," it said. In the Budget, Finance Minister Nirmala Sitharaman had announced that CBDT will adopt a "taxpayer charter" which will ensure trust between a taxpayer and the administration and reduce harassment, as well as increase efficiency of the department. CBDT, which is the apex decision making body in direct tax matters, administers personal income tax and corporate tax. "Wealth creators will be respected in this country," she had said in her 2020-21 Budget speech. "We wish to enshrine in the statutes a "taxpayer charter" through this budget. Our government would like to reassure taxpayers that we remain committed to taking measures so that our citizens are free from harassment of any kind," she had said. To facilitate better taxpayer services, CBDT has lowered the percentage of I-T returns picked up for scrutiny. Income Tax returns (ITRs) picked up for scrutiny has reduced to 0.25 per cent of the total ITRs filed in Assessment Year (AY) 2018-19, from 0.55 per cent in AY 2017-18. The number was 0.71 per cent in AY 2015-16 and 0.40 per cent in AY 2016-17. Taking forward faceless assessment process, the Budget also proposed to bring about "faceless appeal". Currently, most of the functions of the Income Tax Department starting from the filing of return, processing of returns, issuance of refunds and assessment are performed in the electronic mode without any human interface. JD DRR DRR

PM to launch platform to honour honest taxpayers on August 13

More than one crore children enrolled in around 1.13 lakh primary schools in <keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> will now be able to improve their pronunciation in both Hindi and English, by using <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>'s 'Bolo' app. The free app was launched in India in March 2019 and uses Google's speech recognition and text-to-speech technology. It features an animated character, 'Diya', who encourages children to read stories aloud and helps if the child is unable to pronounce a word. It also lauds the reader when he/she completes the reading. State Institute of Educational Management and Training (SIEMAT) Director Sanjay Sinha said that the app is designed for primary grade children, aged between six and 11 years. "'Bolo' helps improve both their English and Hindi reading skills, by encouraging them to read aloud. The app also gives instant feedback," he said. 'Bolo' is actually a read-along app or a speech-based, reading-tutor app for Android-based smartphones. It can be downloaded for free from Google's Play Store. Sinha further said that the app will also help teachers wherever they are in doubt about the pronunciation of a Hindi or English word. For its introduction in government primary schools, the Samgra Shiksha Abhiyan project officials have entered into an agreement with Google and parents of these children who have smartphones, have also been trained by teachers to use the app at home to help children. According to state resource group (SRG) member, Sunil Tiwari, as part of efforts to implement 'Mission Prerna' - the flagship programme of the state government to improve quality of education in schools running under the Basic Shiksha Department, members of the SRG, key resource persons (KRPs) and academic resource persons (ARPs) are giving online training to around 5.5 lakh primary school teachers of the state including assistant teachers, Shiksha Mitras and subject instructors, on using <keyword id="7400200" type="UNKNOWN" weightage="20" keywordseo="Google-Bolo">Google Bolo</keyword> effectively. The app can also work offline and does not require an active Internet connection, he said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms">It only takes 50 tweets to find a troll on Twitter</a> <a href="https://www.businessinsider.in/personal-finance/news/what-is-new-taxpayer-charter-and-faceless-scrutiny-in-tax/articleshow/77518551.cms">India's new tax charter promises 'faceless' scrutiny — Here's what that means</a> <a href="https://www.businessinsider.in/india/news/prime-minister-narendra-modi-speech-highlights-on-indias-new-tax/articleshow/77518678.cms">India’s ‘Transparent Taxation’ charter — Highlights of Prime Minister Narendra Modi’s speech</a>

'Google Bolo' plans to teach over one crore kids how to pronounce in Uttar Pradesh primary schools

<ul><li>The US government is relaxing its restriction on the entry of <keyword id="6358066" type="UNKNOWN" weightage="20" keywordseo="h-1b-visa">H-1B visa</keyword> holders into the country but based on some terms and conditions. </li><li>Terms and conditions include resuming existing employment and proving that absence of the H-1B visa holder would result in a serious financial loss to the company. </li><li>The move comes just one day after tech giants like Facebook, Google, and Microsoft decided to support the lawsuit filed against the visa suspension by 174 Indian families. </li></ul>Indian H-1B visa holders will finally be able to return to the US with the country’s State Department relaxing the visa restrictions issued by US President Donald Trump last month. <div type="Article" hostid="261" msid="77120776" title="The H1-B visa ban is not what Indian IT firms want⁠— but they are pocketing some savings while it lasts" mstype="2" mssubtype="0"></div> The move comes just one day after tech giants in the US — including Facebook, Google, and Microsoft — decided to back the lawsuit filed on behalf of 174 Indian families against Trump’s proclamation. But, not everybody will make the cut. The State Department has added some terms and conditions that will determine the eligibility of an H1-B applicant’s necessity to return to the US. The problem with these requirements is that they do not appear in US laws and are completely arbitrary. Despite that, employers and employees alike consider the move an improvement over the status quo. India’s leading tech lobby NASSCOM remains ‘cautiously optimistic’. “NASSCOM welcomes this move and believes it will help US businesses access talent critical to the economic recovery phase in the post-COVID world,” it said in a statement. H-1B visa holders can only return to the US if they already have a job there To travel back to the US on an H-1B visa, one has to be resuming ongoing employment, be a technical specialist, a COVID-19 researcher, or a public healthcare worker in order to qualify for travel. Who can travel back to the US on an H-1B visa: <ol><li>Applicants seeking to resume ongoing employment </li><li>Technical specialists </li><li>Public health or healthcare professionals </li><li>COVID 19 researcher </li><li>“Other workers whose travel is necessary to facilitate the immediate and continued economic recovery of the United States.” </li><li>Dependents — spouses and children — will be allowed to travel with visa holders (End graphic) </li></ol>Assuming that the above criterion is met, there are still a few more hoops to jump through. How will the US State Department determine that you’re ‘unique’? Even if an H-1B applicant wants to return to their existing job, they have to prove themselves to be unique. The US State Department has listed five criteria, and at least two must be met for applicants to be considered. Terms and conditions for H1-B visa holders to return to the US: <ul><li>They cannot do their job remotely. </li><li>Income meaningfully exceeds the prevailing wage rate by at least 15% indicating that they can’t be replaced by an American worker. </li><li>Proposed job duties or position within the company indicates significant and unique contributions to an employer meeting a critical infrastructure need. </li><li>Education, training, and experience demonstrate unusual expertise </li><li>Denial of the visa will cause financial hardship to the U.S. employer. (End graphic) </li></ul>Critical infrastructure sectors include chemical, communications, emergency services, energy, financial services, transportation, and water systems, among other areas. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-icici-bank-axis-kotak-and-others-have-plans-to-raise-14-billion-but-if-things-go-haywire-they-could-need-three-times-more/articleshow/77506879.cms">SBI, ICICI Bank, Axis, Kotak and others have plans to raise $14 billion — but if things go haywire, they could need three times more</a> <a href="https://www.businessinsider.in/india/news/prime-minister-narendra-modi-speech-highlights-on-indias-new-tax/articleshow/77518678.cms">India’s ‘Transparent Taxation’ charter — Highlights of Prime Minister Narendra Modi’s speech</a> <a href="https://www.businessinsider.in/personal-finance/news/what-is-new-taxpayer-charter-and-faceless-scrutiny-in-tax/articleshow/77518551.cms">India's new tax charter promises 'faceless' scrutiny — Here's what that means</a>

US eases H-1B visa norms a day after tech giants back immigration lawsuit — NASSCOM ‘cautiously optimistic’

New Delhi, Dec 7 () Finance Minister Nirmala Sitharaman on Saturday said the government is working on more steps, including rationalisation of personal income tax rates, to revive the sagging economy.
 The GDP growth slowed down to more than six-year low of 4.5 per cent in the second quarter of the current fiscal from 5 per cent recorded in the first quarter.
 The government has taken several measures during August and September to boost the economy, she said at the HT Leadership Summit here.
 Besides, she said, the public sector banks have disbursed nearly Rs 5 lakh crore without compromising on prudential norms in the last two months to boost consumption in the hinterland.
 "So there are ways in which for giving stimulus for consumption. We are adopting a direct method and also the method through which we are spending on infrastructure, whose spillover can go to core industries labour and so on," she said.
 Asked if there could be more measures announced to bolster economic activity, she said, "If I say yes, it will be when and if I say yes it's also going to be back to me saying are you not too close to the budget. So I don't want to say yes although I am wishing I can say. At the same time, I will not say no, because we are working on more."
 When asked if the government is considering rationalisation of the personal income tax rate for putting more money in the hands of people, the Finance Minister said, "One among many things that we are thinking of."
 Following the reduction in corporate tax in September, there has been a growing demand for a slash in the personal income tax to buttress consumption.
 In the biggest reduction in 28 years, the government in September slashed corporate tax rates up to 10 percentage points as it looked to pull the economy out of a six-year low growth with a Rs 1.45 lakh crore tax break.
 Base corporate tax for existing companies has been reduced to 22 per cent from 30 per cent, and to 15 per cent from 25 per cent for new manufacturing firms incorporated after October 1, 2019, and starting operations before March 31, 2023.
 Assuring that there will be no harassment of taxpayers, Sitharaman said the intent of the government is to further simplify taxation systems including removal of exemption.
 Citing the example of corporate tax, she said, "From now on, they're moving towards a greater simplified and exemption free. Therefore, has harassment-free therefore subjective interpretation free taxation regime."
 Besides, she said the government has introduced faceless assessment of direct tax and soon this will be introduced in indirect tax to eliminate harassment.
 On the Goods and Services Tax (GST) the Finance Minister said, the rate structure will have to be decided by the GST Council.
 Eventually, the rates have to be rationalised and the entire tax system has to be simplified, she added.
 "One, the tax per se, is getting complicated because of this unstructured bringing down of rates. Another, it's also getting complicated because you want to be sure that you're doing everything correct, but ending up asking for so much more information in a technology-driven system. People just get fed up of wanting to give so much information. So, we have problems in both the hands," she said.
 With regards to apprehension raised on the genuineness of data, the Finance Minister said, "There's no doubt, we need to bring credibility back to the data."
 The government is aware of the debate which is going on on data and its credibility, she said, adding, the intention is to make sure that any kind of inappropriate methodology which is coming into the data will have to be addressed.
 "So we will have to work towards better credibility, we have to work towards making available data without any obstruction," she said.
 Asked how she reacts to criticism of her at various quarters, she said "I don't allow it to worry me. I'm not inhuman I do sometimes do get affected by it, but I suppose it's part of the job. So, I can't really wish it away. It comes, let it keep coming. I handled it." DP DP MR
MR

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