CURRENT AFFAIRS

Detailed explanation-1: -Recently, the Prime Minister of India launched the ‘Transparent Taxation - Honoring The Honest’ platform to honour the honest taxpayers of the country.

Detailed explanation-2: -PM launches platform for “Transparent Taxation – Honouring the Honest” | Prime Minister of India.

Detailed explanation-3: -On August 13, 2020, PM Narendra Modi launched ‘Transparent Taxation – Honoring the honest’, a new platform to encourage sincere taxpayers. This platform recognizes the need of creating a modern taxation system and introduces major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter.

Detailed explanation-4: -Transparent Taxation is a platform or a new tax scheme to reward the “honest taxpayers” of the country and make tax compliance easier as part of the government’s initiatives to reform direct taxes in India.

Detailed explanation-5: -The intention behind establishing this platform is to honor the honest taxpayers who display sincerity with respect to payment of taxes. The purpose of this platform is to accomplish a transformation of the income tax department, from a tax collector to a tax facilitator.