Income Tax department responsive to the needs of taxpayers during pandemic : Sitharaman

Finance Minister Nirmala Sitharaman has reserved words of praise for the Income Tax department, complementing officers for being responsive to the needs of the taxpayers during the pandemic times by relaxing various compliance requirements and addressing the liquidity concerns of the taxpayers.

In her message at a function organised to observe 160th anniversary of Income Tax Day, Sitharaman on Friday said the efforts of the I-T department towards making the tax administration as taxpayer-friendly and transparent has facilitated voluntary compliance. Therefore, she said, the department will continue to play a critical role in the growth of the nation by keeping to improve and set new standards of professionalism.

She recognised the paradigm shift in its role in recent years, from being just a revenue collecting organization to becoming a more citizen-centric organization.

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She cited various reform measures undertaken, including, inter alia, the introduction of a new, simpler tax regime, reduced corporate tax rates as also payment of tax at concessional rates for domestic manufacturing companies, which will pave the way for an "Atma Nirbhar Bharat".