We want businesses to flourish, our emphasis now is on honouring the honest with a transparent system of tax assessment: S K Gupta, CBDT
New Delhi, 6th September’2020: In a bid to foster a wider perspective on the emerging tax landscape, its impact and possible approaches to deal with it, leading industry body ASSOCHAM commenced its 17th International Tax Conference – Emerging World Tax Order here today.The conference will be held over a span of four days i.e. 4th, 5th, 11th and 12th September 2020.
Speaking at the occasion Mr. S K Gupta, Member – Taxpayers Services and Systems, CBDT, said, “This conference will provide an apt platform for stakeholders related to the tax system to be able to discuss all issues and challenges related to the tax system in a very thoughtful manner. We at CBDT have responded well to the challenges thrown up by the COVID-19 pandemic and did our best to provide seamless operations to the taxpayers with regards to all the announcements made during this period. “
Explaining how the new system will work, Mr. Gupta emphasized that now the focus is on honoring the honest taxpayers through a transparent system, “We want businesses to flourish. Any case of scrutiny etc will now go to officers in a different city than where the taxpayer resides and replies of assesses will be properly considered whenever there is a query to them. We promise to honor the honest and hope to serve the taxpayers well”.
A power packed Day 1, featured key important speakers and stakeholders including Mr. S K Gupta, Member – Taxpayers Services and Systems, CBDT, Mr. Kamlesh Varshney, Joint Secretary – TPL-1, CBDT, Mr. Rasmi Ranjan Das, Joint Secretary (Foreign Tax & Tax Research – I), CBDT, Mr. Sunil Gupta, Head- Direct Taxation, Reliance Industries, Mr. Ashish Kumar, Commissioner of Income Tax – (International Tax-II), Mr. Milind S Kothari, Chairman, National Council on International Taxes, ASSOCHAM & Managing Partner, BDO India LLP, Mr. Rakesh Nangia, Co- chairman, National Council on International Taxes, ASSOCHAM & Chairman, Nangia Andersen India Pvt. Ltd and many more panelist from government department, corporate world and consultancy firms.
Mr Vineet Agarwal, Sr. Vice President, ASSOCHAM, said, “I would like to acknowledge the remarkable efforts of CBDT to check black money, formalize the economy by encouraging electronic payments and make tax administration more transparent and accountable. The recent introduction of faceless assessment and scrutiny, which has now been scaled up to include all assessments other than a few specified cases is indeed a big leap towards setting up a transparent administrative process and will help in enhancing India’s ease of doing business. I am sure this conference will contribute to a greater understanding of the tax landscape and in strengthening the taxation system.”