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New Delhi: Finance minister Nirmala Sitharaman on Saturday proposed a tax payers’ charter in the Income Tax Act to ensure fairness to all assessees and to make sure that officials in their quest to collect taxes do not end up harassing citizens.

Also, steps will be taken to remove criminal liability for offences under the Income Tax Act, which are civil in nature, the minister said in her Budget speech.

“An important aspect of ease of living and ease of doing business is fairness. Businesses should have the confidence that things are fair and that the tax administration is efficient. We wish to enshrine a tax payers’ charter in the statute. Our government would like to reassure tax payers that they will not be harassed. Tax harassment cannot be tolerated when we speak about wealth creation," said Sitharaman.

The minister said certain offences under the Companies Act are being decriminalized and that other laws are also being examined to make corrections.

ABOUT THE AUTHOR
Gireesh Chandra Prasad
Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
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