PM Modi to Launch New Taxation Platform

PM Modi is slated to launch a new taxation platform called "Transparent Taxation – Honouring the Honest" tomorrow, a PTI report said.

The launch is reportedly aimed at carrying forward the journey of direct tax reforms.

Union Finance Minister Nirmala Sitharaman and Minister of State for Finance and Corporate Affairs Anurag Singh Thakur are also expected to take part in the virtual event.

The launch event will also reportedly be witnessed by different chambers of commerce, associations of chartered accountants, trade associations and also eminent taxpayers.

The report, while quoting an official statement, underscores the fact that the Central Board of Direct Taxes (CBDT) has ushered in various significant tax reforms in the recent years in the domain of Direct Taxes.

Among other reforms, corporate taxes were reduced from 30 per cent to 22 per cent, and the same was brought down to 15 per cent for new manufacturing units.

Likewise, Dividend Distribution Tax was also done away with, besides making tax compliance for convenient for the individual taxpayers.