India moving towards tax transparency, says PM Modi

Prime Minister Narendra Modi inaugurated an office-cum-residential complex of Income Tax Appellate Tribunal (ITAT) in Cuttack, Odisha through video conferencing on Wednesday. During the inauguration PM Modi highlighted recently introduced tax reforms and said,”Public should not be put at unease when tax is collected.” “Taxpayer now doesn’t have to wait for years for tax refund,” said PM Modi. “India moving from tax terrorism to tax transparency,” PM Modi also said citing faceless appeals, dispute resolution mechanism.

Underlining the tax reforms, PM Modi said, “nil tax on income of up to Rs 5 lakh is helping low-income individuals,” adding “Corporate tax has also seen a historic reduction.” The newly-built office-cum-residential complex of ITAT, Cuttack is spread over an area of 1.60 acres of land allotted by the Odisha government free of cost in the year 2015. ITAT Cuttack has been functioning from rented premises since 1970 for almost 50 years and has jurisdiction for appeals arising from the State of Odisha.