Tax Reforms Simplified: Easing the Burden on Citizens - Modi

In a bid to alleviate financial pressures, Prime Minister Narendra Modi announced sweeping tax reforms designed to simplify income tax procedures and ease the burden on Indian citizens. The changes, included in the government's agenda, raise the tax-free income threshold to Rs 12 lakh annually, a significant jump meant to benefit the middle class.

During his address on the 79th Independence Day, Modi emphasized that these reforms include faster income tax refunds and the implementation of a faceless assessment scheme. The faceless assessment initiative, launched in October 2019, removes the need for taxpayers to visit tax offices by utilizing a central electronic system that simplifies tax scrutiny.

Echoing the reforms' success, data reveals a drastic reduction in refund processing time, dropping from 93 days in 2013 to just 17 days currently. Furthermore, the value of issued refunds soared by 474% over the past 11 years, reflecting the government's commitment to modernization and efficiency in tax administration.

(With inputs from agencies.)