New Delhi: Union Finance Minister Nirmala Sitharaman has said that the government is trying to simplify the direct tax law. She also said that some major reforms have been made, such as giving tax payers the option of a new simple tax regime. In his message on the 160th Income Tax Day, the Finance Minister praised the department for the steps taken during the Corona epidemic keeping in mind the needs of taxpayers.
She said that the department has relaxed compliance requirements of various types of regulations and has also removed the cash concerns of the units. The Finance Minister said that the department has made the tax administration consistent and transparent with the taxpayers. Along with this, steps have been taken to simplify voluntary compliance which is commendable. He said that in recent times there has been a big change in the role of the department and it has not just been a revenue collection organization but has become a citizen centric establishment.
Sitharaman said, ‘It has been our constant endeavor to simplify the direct tax law. Under this, we have made major tax reforms by encouraging new alternative simple tax regime for our taxpayers. They (taxpayers) now have the option of choosing the old tax system or the new simple system.
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