Budget 2023: 5 ways to simplify tax compliances7 min read . Updated: 30 Jan 2023, 09:13 PM IST
- Amid the usual requests, there is another important aspect which merits consideration, and that is simplification of the tax regime and making tax compliance easy for taxpayers
The Union Budget is just a few hours away and like every year, there are multiple opinions on what the hon’ble Finance Minister should focus on. Amongst the usual requests for lower taxes, specific exemptions or increase in various deductions, there is another important aspect which merits consideration, and that is simplification of the tax regime and making tax compliance easy for taxpayers. To encourage greater tax compliance, the Government has already introduced several measures, such as digital means of gathering information, facilitating access of online information to taxpayers so that they can reconcile data, automated reminders to file and take pending action where required, etc. The Government is also trying to bring about a change in the way taxpayers perceive the authorities by bringing in measures like the Taxpayers’ Charter for a fair and transparent treatment at the Department’s end.