Union Finance Minister Nirmala Sitharaman addressing a press conference in New Delhi on August 23, 2019. (Photo: IANS)
Union Finance Minister Nirmala Sitharaman addressing a press conference in New Delhi on August 23, 2019. (Photo: IANS)
Business & Economy

Authorities don't have to overreach, tax targets achievable: FM

IANS

New Delhi, August 23, 2019

Responding to India Inc's calls for measures to curb "tax terrorism", Finance Minister Nirmala Sitharaman on Friday said that tax authorities do not have to overreach as the tax targets set in the Budget are well within achievable limits.
Sitharaman said that she has met several state tax officials and urged them not to stress on the tax liabilities. She would also meet tax officials across the country and convey the message.
She observed that technology can be used to monitor tax payments and liabilities, which should be used by the authorities.
The Finance Minister also said that the government would take measures to curb such instances, including the introduction of "faceless" tax scrutiny from the upcoming Vijaya Dashami.
She further said that tax notices and summons without a computer generated unique ID number would not be valid. This measure would help curb unauthorised tax summons.
On violation of corporate social responsibility norms, the Minister said that such violations would not be treated as criminal offence. Prosecution will be replaced with a more humane approach and wealth creators will be honoured and respected, she said.
IANS

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