(Namita Pradhan, Intern Journalist) Over 24 lakh taxpayers may have got or will get their refunds soon as the Department of Income Tax has issued a refund of Rs 88,652 crore so far this fiscal. It includes personal income tax refunds for over 23 lakh taxpayers and the corporate taxpayers of over 1.58 lakh refunds to taxpayers from the month of April 2020 onwards. The Income-tax refunds of Rs 28,810 crore were issued in 23,05,726 cases and the refunds of corporate tax of Rs 60,472 crore were issued in 1,58,280 cases,” said by a tweet from the income tax department on a tweet.
Prime Minister Narendra Modi has recently launched the platform ‘Transparent Taxation- Honouring the Honest’ and has made it easier and friendlier for tax rules. PM Modi has also announced faceless assessment, appeal, and taxpayer charter to make the process of taxation transparent. The platform was launched on 13th August, PM Modi exhorted the taxpayers, “Ask your conscience and do a paid tax honestly.” he said. He also states that the number of taxpayers in the country is very less looking to its larger population. He said that there is a need for fundamental reforms in the Indian tax system. During the launch, he said, “We have decreased the litigation, complexity, increased transparency, tax compliance and have trust in the taxpayer.
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